Emissions under the EU's Emission Trading System (ETS) declined by 15.5% in 2023, driven down by the power sector’s significant progress in decarbonisation, with emissions from electricity production decreasing by 24%, according to the European Commission. This decrease is due to an increase in renewable electricity production, primarily from wind and solar, at the expense of both coal and gas, and to a lesser extent, a recovery of hydro and nuclear power caused by more favourable climate conditions.
In parallel, emissions from energy intensive sectors declined by 7% as a result a combination of reduced output and efficiency gains which are mainly visible in cement, iron and steel, while aviation emissions increased by 10%, in a context of rebound from the collapse during the COVID19 pandemic.
Consequently, ETS emissions are now around 47% below 2005 levels. The EU aims to reduce its emissions under the ETS by 62% in 2030 compared to 2005 levels.
Interested in Global Energy Research?
Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.
This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.