This report is not a comprehensive overview of Chinese environmental policy; it intends to act as a starting point for those wishing to better understand why and how China is slowly changing to adopt progressive policy instruments to tackle growing environmental concerns.

Carbon Fat Cats 2011 sets out the analysis of those companies profiting most from Europe’s Emissions Trading Scheme (ETS). The results matter because of their bearing on a crucial debate being held in Europe and the wider world – a debate about how to respond to profound challenges created by the economic dependence on fossil fuels, in particular the threat to a stable climate.