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Sandbag Briefing – The Case of ArcelorMittal - page 4 / 4

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KEY FACTS: ARCELORMITTAL AND EMISSIONS TRADING

General

Year

2005

2006

2007

2008

2009 estimated

2008 -2012 estimated

Permits

83,540,818

82,662,938

93,979,943

89,038,947

88,860,030

437,139,637

Emissions

60,496,897

64,565,776

74,437,686

68,258,166

43,002,644

325,727,968

Flue Gas Adjustment

-2,186,140

-2,186,140

-2,186,140

-6,340,884

-6,340,884

31,704,420

Overallocation

25,230,061

20,283,302

21,728,397

14,439,896

39,695,418

79,886,164

Windfall Profit

n/a

n/a

n/a

202,158,544

555,735,852

1,118,406,302

ArcelorMittal operates across 85 sites in the EU with its head office based in Luxembourg. Its international revenues in 2008 were $124.9 billion and its global crude steel production was 103.3 million tonnes, representing approximately 10% of world steel output. ArcelorMittal owns both steel plants, and mines which supply raw materials for steel production. The company has been repeatedly criticised by civil society groups9 for poor environmental practice in a variety of its plants and mines, most recently in South Africa where the company has been challenged for local pollution10.

ArcelorMittal and the ETS

Permits, Emissions and Overallocation Trends 2005-2009

Sources

  • 1.

    CarbonMarketData online ETS companies database.

  • 2.

    EU CITL data verified data on emissions and allocations

  • 3.

    Sandbag calculations of flue gas adjustment based on CITL data and location of adjacent power and steel plants see www.sandbag.org.uk.

  • 4.

    2009 estimate of emissions is based on World Steel Association figures that steel output dropped 37% in 2009; we have assumed a corresponding 37% drop in emissions.

  • 5.

    Windfall profits are estimated on the basis of permits selling for €14 each.

Estimate for total Surplus / Overallocation: 2008-2012

We are assuming an optimistic scenario for growth out of the recession, that for 2010 the emissions will return to 2008 levels, and from then emissions will grow 5% per year. We are assuming flue gas adjustment to remain constant.

9 Global Action on ArcelorMittal is a group whose sole aim is to challenge ArcelorMittal’s practices in coalition with other organisations. http://www.globalaction-arcelormittal.org/ http://www.sundayindependent.co.za/?fArticleId=5180264 10

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