Germany Achieves 2024 National CO2 Reduction Target, Misses EU Goal
...Raises Record €18.5 Billion In Carbon Emissions Trading
Germany achieved its national target for the reduction of greenhouse gas emissions in 2024, but failed to accomplish a stricter European Union (EU) goal, a leading environmental think tank said on Tuesday.
According to calculations by Agora Energiewende, Germany last year emitted a total of 656 million metric tons of carbon dioxide (CO2) equivalents, a term used to compare emissions of different gases.
A report by the German News Service (delivered by dpa), indicates that the figure was 2.7 percent lower than the previous year’s 674 million tons, and represents a historic new low for Europe’s largest economy, the think tank said, just as German emissions reduced by 48 percent compared to 1990, the year of reunification.
“Germany over-achieved its annual reduction target under the Climate Protection Act by 36 million tons. However, due to insufficient emissions reductions in buildings and transport, Germany missed European climate targets agreed as part of the Effort Sharing Regulation (ESR) by an estimated 12 million tons of CO2,” the group said.
Under the ESR, European Union countries have committed to reduce emissions harmful to the climate quicker in sectors including buildings, agriculture, transport and waste.
“Climate protection measures taken in recent years are increasingly having an effect on the electricity sector,” said Simon Müller, director for Germany at Agora Energiewende.
“With a significant increase in renewable energy and the positive trend in grid expansion, Germany is paving the way for a successful transformation in all sectors. At the same time, the country is increasingly benefiting from falling emissions and cheaper prices on the electricity exchange,” Müller added.
Meanwhile, Revenue from the sale of carbon allowances in Germany reached a record high in 2024, the German Emissions Trading Authority (DEHSt) said on Tuesday.
Sales raised €18.5 billion ($19.2 billion), around €100 million more than in the previous year, said the official body, which is part of the Federal Environment Agency.
“2024 was a good year for emissions trading, but there is still a lot to do,” DEHSt head Daniel Klingenfeld told dpa.
The pricing of greenhouse gases – which occurs at both the national and the European level – is intended to incentivize businesses and consumers to transition away from fossil fuels.
Germany’s so-called carbon dioxide (CO2) tax is levied on petrol, diesel, heating oil and natural gas.
Revenue from national emissions trading for heating and transport rose by 21 percent to €13 billion in 2024.
The funds flow directly into Germany’s climate and transformation fund, which is used to finance measures to facilitate the energy transition and protect the environment, including refurbishing buildings, expanding electric vehicle infrastructure and de-carbonizing industry.
The CO2 price in national emissions trading was raised from €45 to €55 per ton at the turn of the year, which could have a serious impact on German consumers.
UBA President Dirk Messner explained that carbon pricing could provide significant impetus for the green transition, but that it must be used in a targeted manner to complement social and economic policy.
“In order to ensure compensation for private households, even if CO2 prices continue to rise, we now need a climate bonus in combination with support programmes for particularly vulnerable population groups,” Messner said.
