Home > Environment > Europe’s top industrial firms have a cache of 240m pollution permits | The Guardian

Europe’s top industrial firms have a cache of 240m pollution permits | The Guardian

Some of Europe’s largest industrial companies gained billions of euros from the carbon emission rules they lobbied fiercely against, new analysis reveals today.

Ten steel and cement companies have amassed 240m carbon pollution permits from generous allocations, according to a report by Sandbag, the carbon trading thinktank, seen by the Guardian.

The free permits, granted to companies with a market value of €4bn (£3.5bn), can be sold or kept for future use. The European commission estimates that the entire energy-intensive sector will have accumulated allowances worth €7bn-€12bn by the end of 2012.

Read more here: Europe’s top industrial firms have a cache of 240m pollution permits | Environment | The Guardian.

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