Merry ETSmas! 🎅
The EU through its Emissions Trading System giftwraps free pollution permits to 30 grossly wealthy energy production and heavy industry companies causing 25% of the bloc’s emissions. 🎁
Over the 12 days of ETSMas we counted down the EU’s luckiest polluters.
The last disclosed yearly revenue for ENI was €123 billion, yet in 2022 the EU ETS granted it €415 million in free allowances.
On Day 1 we asked, why must society pay their bill?
Find out more about the EU’s Emissions Aristocracy in our groundbreaking report.
On the 2nd day of ETSmas the EU ETS gave to Exxonmobil €606m 😮
A company generating a yearly revenue of €370bn doesn’t need such a helping hand.
Read our thoughts here on how ETS revenues can be better spent on climate action and ending energy poverty.
Christmas is the season of giving but some gifts cost more than others.
On the 3rd day we highlighted how in 2022 €608m worth of pollution freebies were allocated to Repsol.
To learn how free allowances undermine the ‘polluter pays principle’ and more check out our EU ETS 101 guide.
Santa is coming down the chimney with a sack full of emissions freebies for Orlen on Day 4 of ETSmas.
€730.5m worth! 🎅
Free allowances exist due to imagined concerns over carbon leakage. Our CBAM explainer details why this is hocus pocus.
Day 5‘s lucky recipient Shell enjoys €753m worth of freebies despite a yearly revenue of €355bn!
Imagine if the EU shelled out this ETS revenue on climate action.💭
Check out this story from Portugal to find how funds are supporting cyclists and helping birds fly again. 🐦🚲
Steelmaking is the most polluting industrial sector in the EU yet in 2022 Voestalpine scored €795m in pollution freebies
On Day 6 we called on EU policymakers to revise the Free Allocation Regulation to uphold the ambition to decarbonise the steel industry.
€807 million worth of free pollution on ETSmas Day 7 for construction giant CRH🤑
The cement industry emits 114Mt of CO2 each year. Read how the flawed EU ETS resulting in stagnating cement sector emissions & huge windfall profits can be rebuilt🧱
On the 8th day of ETSmas Total Energies received €809million worth of gifted pollution🎅
Energy intensive companies receive these🎁s due to risk of ‘carbon leakage’
Read our ‘Phantom Leakage‘ report to find out what that is and why it is make believe👻
On the 9th day of ETSmas, building materials giant Holcim received €1.4 billion in pollution freebies🎅
Had Holcim paid for its pollution, this money could have been used to fund innovation and find concrete decarbonisation solutions for the industry
On ETSmas Day 10 Thyssenkrupp received a staggering €1.8bn in freebies
We asked followers to share their concerns about free pollution permits by responding to the European Commission’s ‘Call‘ for feedback on the update of free allocation rules
Stay tuned to read our feedback tomorrow
On Day 11 of ETSmas Heidelbergcement received a €1.9bn pollution bounty😒
Policymakers must take concrete decisions to end free pollution permits
Read our feedback on why the Free Allocation Regulation proposal as currently drafted should be rejected
On ETSmas Day 12 ArcelorMittal knocked Santa over with €3.7bn in free pollution allowances😔
Join us and our LifeETX partners on 🗓️23 January 2024 to learn how to make the EU ETS work for the many rather than the few 📈