Between 2008 and 2019, energy-intensive industries in Europe made up to 50 billion euros in windfall profits from the European Union’s Emissions Trading Scheme (ETS), due in part to an “over-allocation” of free allowances, according to a report published on Monday 7 June by the NGO Carbon Market Watch.
Carried out by the CE Delft consultancy, the study covers the 15 most CO2-intensive sectors (iron and steel, cement, petrochemicals, etc.), plus aviation, in 19 EU countries.
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