Here is the real story -
NEW YORK – A story emerging out of Britain suggests “follow the money” may explain the enthusiasm of the United Nations to pursue caps on carbon emissions, despite doubts surfacing in the scientific community about the validity of the underlying global-warming hypothesis.
A Mumbai-based Indian multinational conglomerate with business ties to Rajendra K. Pachauri, the chairman since 2002 of the U.N. Intergovernmental Panel on Climate Change, or IPCC, stands to make several hundred million dollars in European Union carbon credits simply by closing a steel production facility in Britain with the loss of 1,700 jobs.
The Tata Group headquartered in Mumbai anticipates receiving windfall profits of up to nearly $2 billion from closing the Corus Redcar steelmaking plant in Britain, with about half of the savings expected to result from cashing in on carbon credits granted the steelmaker by the European Union under the EU’s emissions-trading scheme.
Read more at http://www.wnd.com/2009/12/118659/#pxeep6ruJo8kb8AJ.99
Topic: Redcar steel plant goes into liquidation (Read 335 times)
Thai firm SSI applies to wind up Teesside business with loss of 1,700 jobs after government offers £80m aid package for redundant workers
Thai firm SSI, owners of the Redcar steelworks, is to go into liquidation.
Sources told PA that the board had applied to wind up the Teesside business, with a formal announcement being made later on Friday.
The move followed a government announcement of an £80m package to support workers who have lost their jobs at the sprawling steel plant.
Roy Rickhuss, general secretary of Community, said: “This is of course yet further devastating news for the workforce, their families and the community. We will be taking steps to ensure our members’ interests are represented through this process and putting claims forward for what they are owed.
“My union, Community, will establish our own taskforce of organisers, legal and education and training officers to support our members, their families and the entire community on Teesside at this extremely difficult time.”
Around 1,700 jobs are being axed after SSI announced earlier this week it was mothballing its iron and steelmaking operation.
The £80m support package includes funding for workers to train at local further education colleges and to help them start up their own business.
The business secretary, Sajid Javid, who joined a local taskforce in Redcar on Friday, said: “This is an extremely difficult time for the workforce at SSI and the local community. The package we are announcing today will provide important support to workers and the local economy. Across government we will continue to focus on providing assistance where we can.”
The government also confirmed that the company made a “last minute and unrealistic” request for the taxpayer to make an “open-ended” funding commitment to maintain the coke ovens in Redcar.
Read more: http://www.theguardian.com/business/2015/oct/02/redcar-steel-plant-goes-into-liquidation
Thai firm SSI, owners of the Redcar steelworks, is to go into liquidation.
Sources told PA that the board had applied to wind up the Teesside business, with a formal announcement being made later on Friday.
The move followed a government announcement of an £80m package to support workers who have lost their jobs at the sprawling steel plant.
Roy Rickhuss, general secretary of Community, said: “This is of course yet further devastating news for the workforce, their families and the community. We will be taking steps to ensure our members’ interests are represented through this process and putting claims forward for what they are owed.
“My union, Community, will establish our own taskforce of organisers, legal and education and training officers to support our members, their families and the entire community on Teesside at this extremely difficult time.”
Around 1,700 jobs are being axed after SSI announced earlier this week it was mothballing its iron and steelmaking operation.
The £80m support package includes funding for workers to train at local further education colleges and to help them start up their own business.
The business secretary, Sajid Javid, who joined a local taskforce in Redcar on Friday, said: “This is an extremely difficult time for the workforce at SSI and the local community. The package we are announcing today will provide important support to workers and the local economy. Across government we will continue to focus on providing assistance where we can.”
The government also confirmed that the company made a “last minute and unrealistic” request for the taxpayer to make an “open-ended” funding commitment to maintain the coke ovens in Redcar.
Read more: http://www.theguardian.com/business/2015/oct/02/redcar-steel-plant-goes-into-liquidation
Jump to: