As the global economy faltered last year and factories idled, industries in the European Union benefited from one of the most lucrative outcomes of the recession: a huge excess of permits to emit carbon dioxide.
The scale of the surpluses became clear Thursday, when the European Commission in Brussels issued preliminary figures for emissions for most of the factories and power plants covered by its Emissions Trading System in 2009.
The decline in industrial production because of the recession meant that emissions from most of the installations covered by the Union’s trading system dropped by 11.2 percent, according to Reuters.
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