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Big polluters set to gain billions from pollution controls that they claim are damaging their business. Findings further isolate voices opposing stronger policies to support green growth.

New research by Sandbag Climate Campaign has revealed the top ten companies profiting from Europe’s Emissions Trading Scheme (ETS), all of whom are prominent members of trade associations actively lobbying to prevent the system from being reformed.

The Carbon Fat Cats, all of them steel and cement companies, share between them surplus carbon permits (EUAs) of 240 million tonnes – more than the annual carbon emissions of Austria, Denmark, Portugal and Latvia combined.