Some of Europe’s top industrial firms that lobbied angrily against carbon emission rules after they were proposed are said to be making huge profits from allowances included in the legislation.
Analysis from think-tank Sandbag shows that the top ten steel and cement companies have gained a cache of around 240m pollution permits, amounting to around an accumulation of allowances worth Eu7bn-Eu12bn by the end of 2012. Baroness Worthington, Sandbag’s founding director, said: “”More and more businesses see that Europe’s future lies in a highly efficient…
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