Greenhouse Gas Emissions Halved under EU Carbon Scheme

Since the introduction of the European emissions trading system (ETS) 20 years ago, greenhouse gas emissions from participating facilities have roughly halved, according to data from the German Federal Environment Agency (UBA).

Since the introduction of the European emissions trading system (ETS) 20 years ago, greenhouse gas emissions from participating facilities have roughly halved, according to data from the German Federal Environment Agency (UBA).

Across Europe, emissions from facilities participating in the ETS, the European Union's carbon pricing scheme, fell by 51%, while in Germany, emissions decreased about 47%, the UBA said.

The system makes high-polluting sectors like power plants and industry buy permits for the carbon emissions they produce.

The pricing of greenhouse gases - which often occurs at both the national and the European level - is intended to incentivize businesses and consumers to transition away from fossil fuels.

According to the UBA, around 9,000 facilities in the energy sector and energy-intensive industries participate. They reportedly account for around 40% of greenhouse gas emissions in Europe.