Emissions from power stations and companies regulated by Europe’s Emissions Trading System fell 4.1% in 2018. The European Commission said the fall was equivalent to about 73 million mt of carbon dioxide. The system regulates about 45% of greenhouse gas output in the EU. In a statement, the commission said: “While there is still much work ahead on reducing emissions across Europe, we are pleased that this year saw an overall decrease in CO2 emissions. Meanwhile, the trading system’s prices trebled in 2018, almost doubling to €14bn ($15.6bn) the revenue of member states that auction carbon credits.
Emissions from power stations and companies regulated by Europe’s Emissions Trading System fell 4.1% in 2018. The European Commission said the fall was equivalent to about 73 million mt of carbon dioxide. The system regulates about 45% of greenhouse gas output in the EU. Airlines, emissions from which rose 3.9% compared with 2017, are excluded from the figures. Meanwhile, the trading system’s prices trebled in 2018, almost doubling to €14bn ($15.6bn) the revenue of member states that auction carbon credits.