Britain’s big polluters accused of abusing EU’s carbon trading scheme
Britain’s biggest polluting companies are abusing a European emissions trading scheme (ETS) designed to tackle global warming by cashing in their carbon credits in order to bolster ailing balance sheets.

The sell-off has helped trigger a collapse in the price of carbon, making it cheaper to burn high-carbon fossil fuels and leading to a fall in the number of clean energy projects. The moves were seized on byenvironmentalists and other critics who have previously criticised theEuropean Union’s ETS for delivering more windfall profits for business than climate change.
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