Thanks to overly optimistic forecasts of growth and fierce lobbying by heavy industry the EU Emissions Trading Scheme (ETS) has failed to incentivise cost effective reductions in emissions and instead enabled some companies to profit from the scheme. This report looks at those companies who have made the most substantial gains: our Carbon Fat Cats.
The fact that the ETS has provided substantial windfalls to some participants and a money making opportunity for many others has not prevented industry from attacking it whenever it can and from successfully lobbying to keep it in its current state: oversupplied with allowances and exerting only the weakest pressure on participants to invest in a low carbon future.
Interactive map available at www.carbonfatcats.eu