Greenhouse gases reduced by half thanks to emissions trading
Ever since its introduction, the positive effects of emissions trading, which promotes climate change mitigation activities by companies, have been apparent across Europe and Germany.
Dessau-Roßlau (dpa) – The German Environment Agency (UBA) reports that greenhouse gas emissions of the facilities involved have roughly halved since European emissions trading was introduced 20 years ago. Emissions have gone down by 51 percent across Europe and by around 47 percent in Germany, according to data from the German Emissions Trading Office at the German Environment Agency.
The cap-and-trade approach means that companies must observe a maximum greenhouse gas emissions allowance and are able to trade such allowances. The number of certificates available is gradually going down. In addition to Germany and the other 27 EU states, Norway, Iceland and Liechtenstein also participate in the European system.
Alongside the European model, there is also national emissions trading in Germany, and the UBA reports that the two instruments cover a combined total of around 85 percent of German emissions.