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🛢💸 The real deal about Carbon Pricing: Difference between revisions
🛢💸 The real deal about Carbon Pricing (view source)
Revision as of 17:58, 19 March 2020
, 19 March 2020→Emissions Trading Schemes
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[[File:Carbon-Market-Watch_cement-industry-report-cover.png|thumb|Thumbnailed image|Carbon Market Watch cement industry report cover, in 2016.]] | [[File:Carbon-Market-Watch_cement-industry-report-cover.png|thumb|Thumbnailed image|Carbon Market Watch cement industry report cover, in 2016.]] | ||
[[File:Cement-profit-euets_2016_Cement-windfall-from-the-ETS_CarbonMarketWatch.png|thumb|Thumbnailed image|Cement companies profit from their pollution under the EU ETS | [[File:Cement-profit-euets_2016_Cement-windfall-from-the-ETS_CarbonMarketWatch.png|thumb|Thumbnailed image|Cement companies profit from their pollution under the EU ETS.]] | ||
Despite the goodwill of governments, some frauds have been spotted, like the case of French cement producer Lafarge who benefited of an overestimated CO2 emissions permit, while shutting down plants; thus being able to sell its extra allowances on the carbon market for a total exceeding €1100M in 5 years. Between 2008 and 2014, the cement sector might have made €2,7B of windfall profit from this allowances surplus.<ref>Carbon Market Watch & Sandbag are 2 NGOs who contributed to unveil this scandal. | Despite the goodwill of governments, some frauds have been spotted, like the case of French cement producer Lafarge who benefited of an overestimated CO2 emissions permit, while shutting down plants; thus being able to sell its extra allowances on the carbon market for a total exceeding €1100M in 5 years. Between 2008 and 2014, the cement sector might have made €2,7B of windfall profit from this allowances surplus.<ref>Carbon Market Watch & Sandbag are 2 NGOs who contributed to unveil this scandal. | ||
source: https://carbonmarketwatch.org/wp-content/uploads/2016/11/Cement-windfall-from-the-ETS_4page_final.pdf</ref> No surprise the EU decided to decrease the share of free allowances since 2013: some industries were literally paid to pollute! | source: https://carbonmarketwatch.org/wp-content/uploads/2016/11/Cement-windfall-from-the-ETS_4page_final.pdf</ref> No surprise the EU decided to decrease the share of free allowances since 2013: some industries were literally paid to pollute! | ||