Environment

Companies Sold Emission Rights

Several Swedish companies have made major profits by selling their carbon dioxide emission rights. According to a report by daily “Svenska Dagbladet”, the previous year 7 companies gained around $US 53 million by adopting that practice. Biggest gainer was steel manufacturer SSAB with a profit of nearly $US 30 million.

Every year, the Swedish Environmental Protection Agency allocates each company a certain amount of carbon dioxide emission rights. If a company discharges less carbon dioxide, it can sell the right to another one.

Obviously, many companies have emission rights that are significantly higher than their actual discharge.