A new study claims that the EU's Emission Trading Scheme (ETS) will lead to some €5.4 billion in windfall profits for industry over the period 2008 to 2012. The study points out that these ETS windfall profits are greater than funds currently being made available for clean energy projects in the EU's economic recovery package. UK-based climate NGO Sandbag talks of the "shocking" scale of the impact of "special" pleading by industry that results in over-allocation of tradeable permits for Phase II of the EU's recently revised ETS.
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