Emissions of greenhouse gases from industrial plants participating in the EU Emissions Trading Scheme (EU ETS) are estimated to have decreased by about 4.5% in 2014.
There are currently more than 11,000 power plants and manufacturing installations within the EU that are participating in the EU ETS scheme. Its main goal is to reduce the amount of certain greenhouse gas emissions by 21% from the 2005 base year by 2020. The scheme is in its third phase and is performing to a much higher level of efficiency compared to the previous two stages.
Stage one and two were fraught with various problems, including the over-allocation of emissions credits, low credit price and non-compliance at an industry level.
In 2014, verified emissions of greenhouse gases from stationary instillations amounted to 1.8 billion tonnes of CO2 equivalent. This indicted a 4.5% decrease over the levels that was witnessed in 2013. The third stage of the EU ETS has benefited from a higher rate of compliance from sectors such as the aviation industry, and the increase in the trend for carbon capture and storage (CCS).
A number companies, including some major international industrial gas players, are increasingly becoming involved in new CCS projects. The likes of Linde and Air Products are developing new methods of carbon capture that have the potential to benefit all parties involved and will further the contemporary climate change agenda.
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