EU emissions down 2.6 percent as recession continues

subscribe

Last year, some 1,888 million tonnes Mt of greenhouse gases were emitted by the 27 countries that participate in the European UnionÂ’s Emissions Trading Scheme EU ETS, plus Norway. This decrease in emissions, equivalent to 2.6 percent on the comparable 2010 figure of 1,939 Mt, reflects a deteriorating economic outlook towards the end of 2011 and mild weather, according to Thomson Reuters Point Carbon, the leading provider of market intelligence, news, analysis, forecasting and advisory services for the energy and environmental markets.

Moreover, emissions last year came in 114 million tons below the 2011 EU Emissions Trading System (EU ETS) cap, meaning the scheme was oversupplied for the third year in a row and the sixth time in seven years and indicating that recovery has still not returned European economies to their pre-crash levels.

The analysis is based on the verified emissions data published today by the European Commission via its Community Independent Transaction Log (CITL) for 9,977 installations accounting for 90 percent of 2010 emissions.

According to Thomson Reuters Point Carbon, the data in 2011 saw the tide turn in terms of the emissions generated by the economies of Europe, as early positive developments slowed and turned to declining output and a related decline in emissions towards the end of the year.

The largest relative changes were seen in the power and heat sector. This sector saw emissions decreasing by 41 million tons to 1,141 million tons as “a mild winter and increased renewable generation, especially from wind and solar power, outweighed the impact on emissions from the shutdown of nuclear power plants in Germany”, said Yan Qin, Senior Modeling Analyst for Thomson Reuters Point Carbon.

Qin added that there is still some uncertainty surrounding the heat sector as France has submitted only 25 percent of its emissions so far. France has a very large proportion of electric heating facilities so its emissions are affected considerably by weather patterns.

In the industrial sectors, emissions were down to 746 million tons, a decrease of 12 million tons year-on-year, “due to declining production levels towards the end of the year and assumed modest intensity improvements”, explained Bjørn Inge Vik, Senior Carbon Analyst for Thomson Reuters Point Carbon.

According to Marcus Ferdinand, Senior Market Analyst, Thomson Reuters Point Carbon, “the outcome of the 2011 emissions data is below market expectations and will have an additional bearish impact on the current low carbon prices. However, the lower than expected verified emission numbers could increase support for the set-aside of allowances in phase three of the EU Emissions Trading System (EU ETS)”.

Ferdinand adds that “we started the 2011 with expectations for steady growth and recovery for most sectors after the financial crisis and, indeed, the first half of the year looked promising with positive economic indicators and industrial production levels growing.

However, concerns over Greek and southern European debt escalated during the latter half of the year and worries over slowing growth in the Euro zone and the possibility of another recession materialized in slowing production levels for important industry sectors, reflected in the drop in emissions”.

Related News

power bill

N.S. senior suspects smart meter to blame for shocking $666 power bill

HALIFAX - A Nova Scotia senior says she couldn't believe her eyes when she opened her most recent power bill. 

Gloria Chu was billed $666 -- more than double what she normally pays.

As someone who always pays her bi-monthly Nova Scotia Power bill in full and on time, Chu couldn't believe it.

According to her bill, her electricity usage almost tripled during the month of May, compared to last year, and is even more than it was last winter.

She insists she and her husband aren't doing anything differently -- but one thing has changed.

"I have had a problem since they put the…

READ MORE
powerline worker

Canada in top 10 for hydropower jobs, but doesn't rank on other renewables

READ MORE

nissan ev parking

Nissan accepting electricity from EVs as payment for parking

READ MORE

usa generation

Solar + Wind = 10% of US Electricity Generation in 1st Half of 2018

READ MORE

Renewable electricity powered California

Renewable electricity powered California just shy of 100% for the first time in history

READ MORE