Pandemic slowdown led to record fall in EU carbon market emissions
Emissions regulated by Europe’s carbon market fell by 14.4% in 2020, their biggest percentage decline yet, as pandemic restrictions stifled economic activity and grounded flights, official data examined by carbon analysts at Refinitiv showed. Around 45% of the European Union’s output of greenhouse gases is regulated by the Emissions Trading System (ETS), the bloc’s flagship instrument to tackle global warming by charging for the right to emit carbon dioxide (CO2). The Refinitiv analysts’ interpretation of European Commission data found emissions covered by the ETS totalled 1.365 billion tonnes of CO2 equivalent (CO2e), down 14.4% on the previous year. The fall was the largest in percentage terms since the market was launched in 2005.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-04-02/general/pandemic-slowdown-led-to-record-fall-in-eu-carbon-market-emissions
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Pandemic slowdown led to record fall in EU carbon market emissions
Emissions regulated by Europe’s carbon market fell by 14.4% in 2020, their biggest percentage decline yet, as pandemic restrictions stifled economic activity and grounded flights, official data examined by carbon analysts at Refinitiv showed. Around 45% of the European Union’s output of greenhouse gases is regulated by the Emissions Trading System (ETS), the bloc’s flagship instrument to tackle global warming by charging for the right to emit carbon dioxide (CO2). The Refinitiv analysts’ interpretation of European Commission data found emissions covered by the ETS totalled 1.365 billion tonnes of CO2 equivalent (CO2e), down 14.4% on the previous year. The fall was the largest in percentage terms since the market was launched in 2005.<br/>
