CO2 emissions in EU firms likely to stagnate in 2011

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CO2 emissions in EU firms likely to stagnate in 2011

Greentech Lead America: Carbon dioxide (CO2) emissions in
the European Union from firms operating under its emissions trading scheme
(ETS) are likely to stagnate in 2011 at 1,918 million tons. Emissions in 2010
stood at 1,916 million tons, up 2.5 percent on the previous year.

The European Commission will release preliminary
emissions data for 2011 from firms operating under ETS on April 2, according to
Reuters.

“We expect (CO2) emissions to stagnate in 2011 at
1,918 million tons,” said Emilie Alberola, head of research at CDC Climat,
which is charged with finding economic tools to fight climate change.

“We observed a very mixed trend in the EU as the
steel and cement industries suffered in 2011 but the power sector did quite
well,” Alberola added.

The ETS covers industrial sectors that emit the most CO2
but the scheme is being questioned because carbon prices have hit record lows
in the past few months, beset by Europe’s economic turmoil and uncertainty
about a future global climate pact.

The world’s biggest carbon market is over supplied with
hundreds of millions of permits because of low demand.

Other analysts have previously said emissions would grow
slightly in 2011, between zero and 2.4 percent, due to softer industrial production
in the fourth quarter of last year, milder weather and heavier investment in
renewables.

Deutsche Bank said on Monday it expects 2011 emissions to
increase by 1.3 percent to 1,963 million tons.

In May, the Commission will publish its final data on
2011 emissions. Last year, data showed emissions rose 3.2 percent in 2010.

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