Germany updated the record, having received 18.5 billion euros last year from pricing for carbon dioxide emissions.
The German department of the quota trade system for emissions (DeHST) published its report on pricing for carbon dioxide emissions for 2024.
According to the document, income from the trade in emissions last year grew to a record level, and income from carbon pricing reached 18.5 billion euros. Thus, the record of 2023 was updated – 18.4 billion euros.
A record income of 18.5 billion euros was formed from two parts. The first part is Germany’s income from the European emission trading system (EU ETS), the second is from the national emissions trading system, which sets the price on CO2 for the heating and transport sectors.
According to DeHST, EU ETS revenues fell by 28 percent last year and amounted to 5.5 billion euros. On the contrary, income from the national quota trade system for emissions increased by 21% and amounted to 13 billion euros last year. All income from both systems is received by the climate and transformation fund (CTF), which plays a central role as a financial instrument to achieve the goals of energy and climate policy. These funds are used to promote the reconstruction of energy -efficient buildings, decarbonization of industry, hydrogen economy and expansion of charging infrastructure for electric vehicles.
Last year, carbon dioxide emissions were reduced by 18 million tons
According to the German analytical center Agora Energiewende, last year, carbon dioxide emissions in Germany were reduced by 3 percent (18 million tons). This happened against the backdrop of a decline in the economy, soft weather and a successful climate policy.
Last year, emissions amounted to 656 million tons, which is 48 percent less than in 1990.