EU ETS: Chemical Firms Making Windfall Profits from Carbon Trading, Study Finds

A study published this week by research institute CE Delft (Delft, the Netherlands) has concluded that energy-intensive industries participating in the European Union’s (EU) Emissions Trading Scheme (ETS), including chemical firms, have enjoyed windfall profits from their participation in the scheme. All industries-including power companies as well as owners of major chemical facilities--generated total windfall profits of up to €14 billion ($17.4 billion) between 2005 and 2008, the study found.   “Emission rights allocated for free to the...

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