On Wednesday May 15th, the European Commission will publish its results concerning the quantities of CO2 emissions subject to emissions trading for the year 2012. Already today, the German ETS registry revealed that the 1,629 energy and industrial facilities in Germany included in the Emissions Trading Scheme emitted 452.6 million tonnes of carbon dioxide to the atmosphere last year. This means that Germany exceeds the cap of 451.8 million tonnes of CO2 emissions.
The report among other data reveals that 416 million allowances were issued for free. This is 14 million more free allowances compared to the year 2011. Further, the report shows that in 2012, there were 139.9 million Clean Development Mechanism (CDM) and Joint Implementation (JI) credits issued – a significant increase from the previous years.
At a press conference, the president of the German Federal Environment Agency (UBA), Jochen Flasbarth, sharply criticized Germany’s increasing emissions and stated that much is to blame on the overallocation of emission allowances which stands at around 1.7 billion allowances. “The reason for this so-called over-allocation is due to a high allocation of pollution rights to Eastern European countries and to a large number of free certificates issued,” he stated. To reform this trend, “Germany must resort to alternative measures”, stated Flasbarth, such as “a CO2 tax or sharper limits for emissions,” he concluded.
The full VET Report 2012 will be available from 15.05.2013 on the German Emissions Trading Authority website.
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