Emission trading windfall could generate billions for the largest polluters

While "short-term, impact on emissions is likely to be small." Schemes are allocated carbon dioxide permits that are traded in as emissions are generated. — the permits are currently worth around US$5 per tonne of carbon. To compensate for having to lose the assets when accounting for their emissions, the firms charge extra for products. In the case of the electricity sector, this is estimated to have generated an extra $1.5 billion in annual profits for British firms between 2005 and 2007. Read more here