Chemical Firms to Earn Big Profits from Selling Emission Credits

The trading of credits awarded to industrial companies based in developing countries for reducing global warming greenhouse gas emissions should generate multibillion-dollar profits for the chemical industry over the next few years, according to a recent academic research paper, and a separate investigation by the Financial Times (FT). Emissions credits are granted by the United Nations (UN) under the Clean Development Mechanism (CDM), which was introduced in 2003 as part of the Kyoto Protocol on climate change. Companies are paid with the credits under CDM for...

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