Freitag, 17. Mai 2013

Emissions trading: 2012 saw continuing decline in emissions but growing surplus of allowances

(LEXEGESE) - According to the European Commission, Emissions of greenhouse gases from installations participating in the EU Emissions Trading System (EU ETS) decreased by 2% last year.

2012 emissions data

The EU ETS covers more than 12 000 power plants and manufacturing installations in the 27 EU member states, Norway and Liechtenstein and also, from 2012, emissions from airlines flying between airports in these countries and to closely connected areas. Verified emissions of greenhouse gases from stationary installations1 have continued to fall, dropping to 1 867 billion tonnes of CO2-equivalent last year, about 2% below the 2011 level for installations Verified emissions reported by airlines amount to almost 84 million tonnes.

Allowance surplus has doubled in 2012

At the end of 2011, the allowance surplus was some 950 million. A combination of the use of international credits, auctioned phase 2 allowances and remaining allowances in the new entrant reserve, sales of phase 3 allowances to generate funds for the NER300 programme and early auctioning of phase 3 allowances, has delivered a cumulative surplus of almost two billion allowances by the end of 2012.

Background Information

Under the EU ETS, installations are required to submit their verified emissions data for each year to Member State registries. For 2012, this data became publicly available on the European Union Transaction Log (EUTL) on 2 April. From 15 May, the EUTL also displays compliance data, with information on whether installations have complied with their obligations to surrender an amount of allowances equal to last year's verified emissions.

The second trading period of the EU ETS began on 1 January 2008 and ran for five years until 31 December 2012. This period coincided with the period during which industrialised countries must meet their Kyoto Protocol emission targets. The EU ETS has been substantially reformed for the third trading period, which started on 1 January 2013 and will run until 2020. The legislation revising the Emissions Trading Directive was adopted as part of the EU climate and energy package on 23 April 2009 (IP/09/628) laying down revised rules for the EU ETS after 2012 until 2020 and beyond.

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