The Case of ArcelorMittal

This briefing examines how the world’s biggest steel company, ArcelorMittal, is set to become the largest1 beneficiary of the EU Emissions Trading Scheme. By 2012 the company is set to have 80 million permits to pollute which it does not need and which it was given for free. If sold, these will make over £1 billion in windfall profits by 2012, paid for in part, by UK power consumers.

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December 10, 2009