{"id":38449,"date":"2016-03-15T08:44:03","date_gmt":"2016-03-15T07:44:03","guid":{"rendered":"https:\/\/www.sonnenseite.com\/economy\/eu-hands-industry-24-billion-in-pollution-windfall.html"},"modified":"2016-03-15T08:44:03","modified_gmt":"2016-03-15T07:44:03","slug":"eu-hands-industry-24-billion-in-pollution-windfall","status":"publish","type":"post","link":"https:\/\/www.sonnenseite.com\/en\/economy\/eu-hands-industry-24-billion-in-pollution-windfall\/","title":{"rendered":"EU hands industry \u20ac24 billion in pollution windfall"},"content":{"rendered":"<p>European Union policy &ndash; meant to cut pollution not pay for it &ndash; provides industry with bumper payout. Report undermines &lsquo;carbon leakage&rsquo; claims &amp; adds to momentum for urgent overhaul of crucial policy currently not &lsquo;fit for purpose&rsquo;.<\/p>\n<p> <!--more--> <\/p>\n<p>New <a href=\"http:\/\/www.cedelft.eu\/publicatie\/calculation_of_additional_profits_of_sectors_and_firms_from_the_eu_ets\/1763\">analysis<\/a>  shows how industry across Europe has earned a &euro;24 billion windfall from  2008 to 2014, under the EU Emissions Trading Scheme (EU ETS)<em>. <\/em>This is the main policy used across the EU to &ldquo;cost-effectively&rdquo;<a href=\"http:\/\/carbonmarketwatch.org\/press-statement-carbon-leakage\/#_edn1\">[i]<\/a> reduce CO<sub>2<\/sub> emissions across industry. The findings in a report &lsquo;<em>Calculation of additional profits of sectors and firms from the EU ETS<\/em>&rsquo;,  from independent environmental analysts CE Delft, adds momentum to  calls from MEPs and campaigners for an overhaul of the policy ahead of  the negotiations to revisit the ETS rules this year at EU level. <\/p>\n<p>The sectors profiting most from  pollution payouts have been iron and steel, cement, refineries and  petrochemicals. The sum netted by industry over the period is more than  10 times the amount the EU has spent on innovation under the EU ETS<a href=\"http:\/\/carbonmarketwatch.org\/press-statement-carbon-leakage\/#_edn2\">[ii]<\/a>.  With highly profitable companies such as ArcelorMittal and Lafarge  benefiting from the windfall, the report adds to existing criticism of  the scheme.<\/p>\n<p>The report identified three ways industry has secured windfall profits through the scheme:<\/p>\n<ul>\n<li>Companies were awarded too many free emissions allowances that they could sell for a profit in the market;<\/li>\n<li>Companies bought cheaper international offsets to comply with their  targets, and were able to sell remaining free allowances for a profit on  the market.<\/li>\n<li>Companies made their consumers pay for non-existent carbon costs (by  passing through the &ldquo;costs&rdquo; of freely obtained emission allowances).<\/li>\n<\/ul>\n<p>However, given that the analysis &ndash; commissioned by <a href=\"http:\/\/carbonmarketwatch.org\/\">Carbon Market Watch<\/a> &ndash; was limited to 19 of the EU&rsquo;s 28 Member States<a href=\"http:\/\/carbonmarketwatch.org\/press-statement-carbon-leakage\/#_edn3\">[iii]<\/a>,  the actual figure of subsidy awarded is likely to be significantly  higher across the region as a whole. The research also underscores the  importance of ongoing negotiations to change the current rules,  highlighting how outcomes must prevent further exploitation of the EU  ETS at the expense of European taxpayers.<\/p>\n<p><strong>Femke de Jong, EU Policy Director at Carbon Market Watch<\/strong> explains: <em>&ldquo;Instead  of making the polluter pay, energy-intensive companies are allowed to  pollute for free under the EU ETS. Even worse, they are able to profit  from their pollution to the tune of billions. It&rsquo;s European taxpayers  that are picking up this bill as governments forego scarce public  money.&rdquo;&nbsp;<\/em><\/p>\n<p>Findings also highlight that &lsquo;carbon  leakage&rsquo; claims by polluters, often used as means to justify special  treatment for various industrial sectors &ndash; and allocation of the free  permits &ndash; are unsubstantiated. Carbon leakage refers to a hypothetical  situation where companies transfer production to countries with weaker  climate change policies to lower their production costs. However, the  report demonstrates that the EU ETS has been a profit, rather a cost,  for industry.<\/p>\n<p>The report moreover shows that most of  the industrial sectors pass on at least part of the &lsquo;cost&rsquo; of free  allowances in product prices in which case they are at lower to no risk  of carbon leakage according to the ETS directive.<\/p>\n<p>&ldquo;<em>If costs are passed through, free allocation is not a good instrument to combat eventual carbon leakage<\/em>&rdquo; says <strong>Sander de Bruyn, Senior Economist at CE Delft<\/strong>.<\/p>\n<p>So far, no evidence has been found for production displacement due to the EU ETS<a href=\"http:\/\/carbonmarketwatch.org\/press-statement-carbon-leakage\/#_edn4\">[iv]<\/a>.  Energy intensive companies themselves have also reported to their  shareholders that competitiveness risks of the EU ETS are not an issue  for them<a href=\"http:\/\/carbonmarketwatch.org\/press-statement-carbon-leakage\/#_edn5\">[v]<\/a>.<\/p>\n<p>Femke de Jong, adds: &ldquo;<em>Today&rsquo;s  findings bust open the industry myth of carbon leakage. There has never  been evidence to back-up the relocation threats made by industry. In  light of the Paris Agreement that helps to level the playing field to  cover over 95% of global emissions, the concept of overgenerous  allocation of free pollution permits in the EU ETS can no longer be  entertained by decision makers<\/em>&rdquo;.<\/p>\n<p>Having given out 11 billion free  pollution permits over the 7 years in question, Member States missed out  on at least &euro;137 billion in auctioning revenues<a href=\"http:\/\/carbonmarketwatch.org\/press-statement-carbon-leakage\/#_edn6\">[vi]<\/a>.  Giving away free emission allowances also reduces the incentive of  companies to produce more efficiently or to invest in breakthrough  technologies that reduce CO<sub>2<\/sub>.<\/p>\n<p>&ldquo;<em>The EU ETS reform must help achieve  the decarbonisation objectives of the European economy whilst allowing a  &ldquo;just transition&rdquo; for all workers without undermining quality of life  or generating windfall profit. The EU must adopt a real low-carbon  industrial policy and take appropriate measures to ensure the EU ETS  effectively contributes to a socially fair transition to a low-carbon  economy<\/em>&rdquo; comments <strong>Montserrat Mir, ETUC Confederal Secretary<\/strong> in charge of climate and energy issues.<\/p>\n<p>In the coming months, European  policymakers are revisiting the rules under which industrial sectors are  able to receive free pollution permits.<\/p>\n<p><strong>MEP Jytte Guteland, the S&amp;D spokesperson on the EU ETS revision<\/strong> commented: <em>&ldquo;Europe  can no longer afford the windfall profits that have occurred during the  current system. The overall ambition of the ETS must be to gradually  move towards ever increasing auctioning, as this is the underpinning  logic of the system and a fair solution for market actors.&rdquo;<\/em><\/p>\n<p><em>&nbsp;<\/em><strong>MEP Bas Eickhout, the Greens\/EFA spokesperson on the EU ETS<\/strong> added: &ldquo;<em>Environmental  and health related costs induced by industrial activities should not be  borne by society, but by the ones that cause them. This is not at all  the case under the current EU ETS.&nbsp; On the contrary, companies make huge  profits out of the pollution permits which they received for free.  There is only one solution: the handing out of free emission allowances  has to be phased out rapidly.&rdquo;<\/em><\/p>\n<p>The launch of the report is accompanied by an <a href=\"http:\/\/carbonmarketwatch.org\/european-parliament-event-re-plumbing-the-eu-ets-low-carbon-innovation-and-carbon-leakage-in-a-post-paris-world\/\">event<\/a>  RE-PLUMBING THE EU ETS: low-carbon innovation and carbon leakage in a  post-Paris world &ndash; Tuesday 15th March, 15:00 &ndash; 17:00 European Parliament  &ndash; Room 5G1 (live webstream available <a href=\"http:\/\/livestream.com\/accounts\/3182712\/events\/4949574\/player?width=640&amp;height=360&amp;autoPlay=true&amp;mute=false\">here<\/a>).<\/p>\n<p><a href=\"http:\/\/images.klimaretter.info\/filestore\/1\/7\/1\/9\/6_b18b08c7fd8f830\/17196_c340cc7e7138a8d.pdf?v=2016-03-14+23%3A36%3A58\" target=\"_blank\" rel=\"noopener noreferrer\">Industry windfall profits from Europe&rsquo;s carbon market <\/a><br \/>HOW ENERGY-INTENSIVE COMPANIES CASHED IN ON THEIR POLLUTION AT TAXPAYERS&rsquo; EXPENSE<\/p>\n<p>&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;.<\/p>\n<h6><a href=\"http:\/\/carbonmarketwatch.org\/press-statement-carbon-leakage\/#_ednref1\">[i]<\/a> <a href=\"http:\/\/ec.europa.eu\/clima\/policies\/ets\/index_en.htm\">http:\/\/ec.europa.eu\/clima\/policies\/ets\/index_en.htm<\/a><\/h6>\n<h6><a href=\"http:\/\/carbonmarketwatch.org\/press-statement-carbon-leakage\/#_ednref2\">[ii]<\/a> SWD (2015) 135, p. 123 <a href=\"http:\/\/ec.europa.eu\/clima\/policies\/ets\/revision\/docs\/impact_assessment_en.pdf\">http:\/\/ec.europa.eu\/clima\/policies\/ets\/revision\/docs\/impact_assessment_en.pdf<\/a><\/h6>\n<h6><a href=\"http:\/\/carbonmarketwatch.org\/press-statement-carbon-leakage\/#_ednref3\">[iii]<\/a>  Austria, Belgium, Czech Republic, Germany, Denmark, Spain, Finland,  France, United Kingdom, Greece, Hungary, Ireland, Italy, Netherlands,  Poland, Portugal, Sweden, Slovenia and Slovakia.<\/h6>\n<h6><a href=\"http:\/\/carbonmarketwatch.org\/press-statement-carbon-leakage\/#_ednref4\">[iv]<\/a> Ecorys (2013), Carbon leakage evidence project, see <a href=\"http:\/\/ec.europa.eu\/clima\/policies\/ets\/cap\/leakage\/docs\/cl_evidence_factsheets_en.pdf\">here<\/a><\/h6>\n<h6><a href=\"http:\/\/carbonmarketwatch.org\/press-statement-carbon-leakage\/#_ednref5\">[v]<\/a> See letter to Barroso <a href=\"http:\/\/www.caneurope.org\/docman\/position-papers-and-research\/eu2030\/2319-iigcc-letter-president-barroso-9-january-2014\/file\">here<\/a>, 2014<\/h6>\n<h6><a href=\"http:\/\/carbonmarketwatch.org\/press-statement-carbon-leakage\/#_ednref6\">[vi]<\/a> Based on information provided by CE Delft (2016), using average annual carbon prices.<\/h6>\n<h5 class=\"green\">Source<\/h5>\n<p><a href=\"http:\/\/carbonmarketwatch.org\/about\/\" target=\"_blank\" rel=\"noopener noreferrer\">Carbon Market Watch 2016<\/a><\/p>\n<div class=\"shariff shariff-align-flex-start shariff-widget-align-flex-start\"><div class=\"ShariffHeadline\">Diese Meldung teilen<\/div><ul class=\"shariff-buttons theme-round orientation-horizontal buttonsize-medium\"><li class=\"shariff-button facebook shariff-nocustomcolor\" style=\"background-color:#4273c8;border-radius:1%\"><a href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https%3A%2F%2Fwww.sonnenseite.com%2Fen%2Feconomy%2Feu-hands-industry-24-billion-in-pollution-windfall%2F\" title=\"Bei Facebook teilen\" aria-label=\"Bei Facebook teilen\" role=\"button\" rel=\"nofollow\" class=\"shariff-link\" style=\";border-radius:1%; 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