According to the carbon pricing report for 2024 published by the German Emissions Trading System Authority (ETS), revenue from carbon trading in 2023 reached 18.5 billion euros, exceeding the previous year's record of 18.4 billion euros.
The record revenue comes from two main sources. The first part was Germany's revenue from the European Emissions Trading System (EU ETS), while the second part was collected under the national emissions trading system (ETS) targeting the heating and transportation sectors.
Revenue from the EU ETS fell by 28 percent to 5.5 billion euros last year, whereas revenue from national emissions trading rose by 21 percent to 13 billion euros, the report said. The total revenue from both sources was transferred to the Climate and Transformation Fund (CTF), which plays a key role in financing projects for Germany's energy and climate policy goals. This funding is used for building renovation projects to increase energy efficiency, decarbonization of industry, development of the hydrogen economy and expansion of electric vehicle charging infrastructure.
Carbon Emissions Continue to Decline
According to Germany-based think tank Agora Energiewende, the country's carbon emissions decreased by %3 (18 million tons) in 2023 as a result of economic stagnation, mild weather conditions and effective climate policies.
Germany's total emissions will fall to 656 million tons, a %48 reduction compared to the reference year of 1990.
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