Carbon Trading Exemption Wanted
Australia’s Alcoa, the country’s biggest exporter of aluminum, is looked for an exemption on carbon trading in order to keep plants that produce aluminum from closing. The company feels that without this exemption, the market will be facing shortfall that could be met by other producers that have higher emissions and prompt investors to look to places such as Qatar, Nigeria or Malaysia for their products.
Currently, Australia is the world’s largest supplier of aluminum products and that the carbon trading exemption would keep them from losing their footing in the market. Planned projects that would benefit the world economy could be lost if the trading exemption didn’t come through and the industry would fall into an intensive trade without them. The company is requesting free permits in place of cash for companies that keep their carbon emissions low which is something that investors and traders consider on the open market when making their decision whether or not to invest in aluminum.