Updated: Heavy industry to make millions from EU ETS
Energy-intensive firms petitioning against change to the EU emissions trading scheme (ETS), stand to make millions from huge surpluses in allowances, according to climate change campaigning group Sandbag.
Using publicly available data, Sandberg calculates that at the end of 2010, 10 firms manufacturing steel and cement in Europe held more than 240 million surplus allowances under the ETS, worth approximately £3.6 billion.
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