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People & Business :: Corporate Social Responsibility
EU ETS: Chemical Firms Making Windfall Profits from Carbon Trading, Study Finds
5:50 AM MDT | May 18, 2010 | Alex Scott
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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