The real gain to Corus from stopping production at Redcar, however, is the saving it will make on its carbon allowances, allocated by the EU under its Emissions Trading Scheme (ETS). By ceasing to emit a potential six million tonnes of CO2 a year, Corus will benefit from carbon allowances which could soon, according to European Commission projections, be worth up to £600 million over the three years before current allocations expire.
But this is only half the story. In India, Corus's owner, Tata, plans to increase steel production from 53 million tonnes to 124 million over the same period. By replacing inefficient old plants with new ones which emit only "European levels" of CO2, Tata could claim a further £600 million under the UN's Clean Development Mechanism, which is operated by the UN Framework Convention on Climate Change – the organisers of the Copenhagen conference.
Quote by corrie2010sounds like you may have read zbigniew brzezinski's "the grand chessboard" published in 1997 corrie ?
I think we need a few years of innovation and thinking outside of the box to regenerate ourselves as a country. We are no longer one of the giant players but to be honest the world is like a game of chess where peices are moving all the time. Who knows in 20 years where will be on the board again. China and India were predicted 10 years ago, well in my knowledge bank anyway. I will never be a pessamist as I have generations of children going forward and I want the best for them.
Quote by gulsonroad30664sounds like you may have read zbigniew brzezinski's "the grand chessboard" published in 1997 corrie ?
I think we need a few years of innovation and thinking outside of the box to regenerate ourselves as a country. We are no longer one of the giant players but to be honest the world is like a game of chess where peices are moving all the time. Who knows in 20 years where will be on the board again. China and India were predicted 10 years ago, well in my knowledge bank anyway. I will never be a pessamist as I have generations of children going forward and I want the best for them.
Quote by corrie2010sounds like you may have read zbigniew brzezinski's "the grand chessboard" published in 1997 corrie ?
I think we need a few years of innovation and thinking outside of the box to regenerate ourselves as a country. We are no longer one of the giant players but to be honest the world is like a game of chess where peices are moving all the time. Who knows in 20 years where will be on the board again. China and India were predicted 10 years ago, well in my knowledge bank anyway. I will never be a pessamist as I have generations of children going forward and I want the best for them.
Quote by browning
Bankers don't go on strike every 2 minutes......
Leonard, Andrew and Steven, steelworkers at the Corus plant in Port Talbot, were killed when a furnace exploded.
The explosion at the Corus steelworks number 5 furnace which also injured 12 workers was the worst accident in the steel industry for 25 years.
The Health and Safety Executive's (HSE) report published in 2003 said the explosion was so powerful it lifted the top half of the furnace up, which allowed approximately 200 tonnes of slag and molten metal and a large volume of hot blast gases to be ejected.
It was only in the summer of 2005 that the inquest was finally held when an 'Accidental Death' verdict was returned. Police confirmed that the Crown Prosecution Service would not be bringing involuntary manslaughter charges against any individuals.
In December 2006 Corus UK Ltd was fined £1,333,000 and ordered to pay costs of £1,744, following charges brought by the Health and Safety Executive (HSE)