The European Union is warning a series of loopholes in current global climate proposals could lead to an increase in emissions over the next decade. In a draft report, the EU says spare carbon emissions permits from the collapse of the Soviet Union, as well as lax rules on emissions from agriculture and deforestation, could help negate proposed reductions. With those loopholes in place, the EU says emissions would in fact rise by 2.6 percent over 1990 levels. The EU also says rich countries’ current reduction pledges currently fall between 13 and 17.8 percent — well short of the 25 to 40 percent cuts urged by the UN’s scientific panel on climate change.