The cement industry, an energy-intensive sector said to be at risk of carbon leakage, made over €5 billion in windfall profits from the European carbon market between 2008 and 2015. It is not alone, however: the steelmaking, petrochemicals and oil sectors also received “pollution permits” under the emissions trading scheme (ETS), according to a new report published on 30 November by Carbon Market Watch.
The report reveals that in 20 EU member states – with Germany, the United...