Environmental analysis news: Polluters gaining from carbon quotas

The carbon quotas which were designed to protect environmental health are allowing heavy polluters to make money, new research has suggested.

Such carbon polluting allowances are organised by the Emissions Trading Scheme for each country in the EU, but it appears that many companies are set to turn a significant profit from surplus CO2 permits.

A study by non-profit organisation Sandbag showed that ten firms could make €500 million (£451 million) from the environmental legislation relating to 2008 alone and may be worth up to €3.2 billion in total for the time leading up to 2012.

Anna Pearson, top policy analyst at the firm, remarked: "The fact that companies are able to make large sums of money for doing nothing highlights that the trading scheme must be reformed and EU climate change target strengthened."

A report carried out by the American Academy of Allergy, Asthma and Immunology cited by Reuters last week, it was found that climate change may be increasing the impact of allergies.

Posted by Claire Manning