Latest news for Sandbag 
Italy risks wasting billions of Euros on foreign carbon credits(15/12/2010)
According to a new report from Sandbag, Italy stands to waste €2.2 billion on foreign carbon credits between 2008 and 2012. The government’s attempts to shield Italian companies from reducing their emissions in the EU Emissions Trading Scheme (ETS) will mean €1.7 billion in taxpayers’ money will need to be spent on foreign carbon credits if the country is to meet its obligations under the UN Kyoto Protocol. In addition, Italian companies in th... [more]
ETS could turn intended restrictions on pollution into a trap that commits Europe to increasing carbon emissions(17/09/2010)
Unless changes are swiftly introduced, Sandbag warns that the Emissions Trading Scheme (ETS) could turn intended restrictions on pollution into a trap that commits Europe to increasing carbon emissions for much of the next decade. Sandbag is a climate change campaigning organisation focused on emissions trading and the carbon market. Sandbag’s analysis shows that the ETS is on course to require savings of, at best, a miniscule 32 million tonne... [more]
Sandbag traces what the big emitters of Europe are using as offsets(31/03/2010)
Sandbag has launched an on-line interactive map and report showing for the first time exactly what European companies are using to comply with their carbon emissions caps and where they are getting their offsets from. Top corporate offsetter – Spanish power company Endesa offset 25% of its emissions in 2008 and Italian power company ENEL, which part owns Endesa, got nearly all (97.7%) of its offsets from Chinese HFC chemical plant projects. Th... [more]
ArcelorMittal is the biggest beneficiary of the EU Emissions Trading Scheme(07/12/2009)
According to climate change NGO Sandbag, the UK’s richest resident, Lakshmi Mittal, CEO and major shareholder of the steel giant ArcelorMittal, could make over £1 billion between now and 2012 from his company’s participation in the EU’s Emissions Trading Scheme. ArcelorMittal has over 14 million emissions permits that it does not need in 2008, a figure which Sandbag estimates will rise to 80 million by 2012 making it by far the biggest beneficiar... [more]
Seeking tougher EU caps under the Emissions Trading Scheme needs to be top priority for the UK(10/08/2009)
In a new report, climate campaign group Sandbag reveals that there are now up to 1.6 billion surplus permits and offset credits available across the EU. This huge potential oversupply will make targets in the scheme far easier to meet than initially expected and keep carbon prices low. The report also finds that in the UK up to £1.7 billion could be spent overseas by 2012 as companies buy up these cheap permits and credits rather than invest... [more]
Sandbag purchases carbon dioxide emission credits from Guy's Hospital(05/08/2009)
All large energy users within the EU are given carbon dioxide emission allowances (carbon credits) under the mandatory European Emissions Trading Scheme. Sandbag has purchased 2,000 tonnes worth of carbon dioxide emission credits from Guy’s and St Thomas’ NHS Foundation Trust in London. Through its comprehensive energy saving campaign the Trust has significantly reduced its carbon emissions allowing it to sell unused credits to generate more ... [more]
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