Greenhouse Projects Watch as EU Polluters Profit: Lobby
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Developers of United Nations-sanctioned emission-reduction projects say they are “bitter” as polluting factories in Europe may be making more money buying their credits than they can by selling them.
ThyssenKrupp AG, Germany’s biggest steelmaker, and Tata Steel Ltd. can profit from emissions trading at a time when share prices for two publicly listed project developers, Camco International Ltd. and Trading Emissions Plc, are slumping amid last year’s record oversupply in the European Union market. And the economy slows. The euro region will contract 0.4 percent this year, according to the median of 43 forecasts compiled by Bloomberg.