German industry profits may be reduced by CO2 emissions

According to a report from Goetzpartners Corporate Finance Limited, Germany's energy intensive industries may have their profits cut by as much as 87% by 2020 due to the costs of carbon emissions certificates.

According to the report's conservative estimates, carbon emissions may cost German companies more than EUR 5 billion if the law and emissions levels stay unchanged.

The report said that by 2020, steel producers' profit could be at 13% of current levels.