COMPANIES SELL PERMITS FOR FOUR TIMES ORIGINAL PRICE
An investigation is underway into the European emissions trading
scheme that has allocated hundreds of carbon permits to multinational
companies.
The permits - intended to account for thousands of tonnes of CO2
produced over five year periods - can be sold for cash and have been
allocated to heavy polluting firms including steel and cement making.
Companies were offered four times the value of the original permits
price when first allocated, environmentalists told Daily Planet Media
with further claims that the allocation of permits were influenced by
lobby groups.
Car manufacturing giant Ford is one of many companies that have
purchased permits with the option for selling. Toyota was re****ted to
be those companies undecided on what to do with their surplus credits.
Surplus amounts are calculated using figures published by the European
Commission on cor****ate CO2 emissions for 2007.
But not all are surpluses allocations as some companies have been
allocated fewer permits than they require. An under allocation to the
UK electricity sector has meant emissions overall were reduced by only
60 million tonnes a year - much lower than expected.
Meanwhile a campaign has been begun in Britain to pressure companies
to surrender surplus credits thereby raising the price of permits and
providing a money incentive for more companies to invest in clean
technology.
The State of the Planet
CARBON CONFUSION
http://www.youtube.com/watch?v=ZjfxtUMY0x4
For latest daily news on climate change and planet opinion
www.dailyplanetmedia.com
Read all about the Earth Charter for a sustainable planet
www.earthcharterfoundation.com
