Germany achieved gains estimated at 13.2 billion euros in 2022 as a result of selling its carbon emissions rights at the local and global levels.
This is unprecedented in Germany, especially since that amount was achieved in one year of selling rights to carbon dioxide emissions, with all the money going to the Climate and Energy Transition Fund.
The German Emissions Trading Authority registered a record 12.5 billion euros in 2021, and the money is currently being used to promote the development of electric mobility, develop the hydrogen industry, or finance energy efficiency measures, the authority said.
Also, the authority funded the abolition of energy surcharges aimed at promoting green electricity, and this helped reduce electricity costs in 2022.
“Pricing carbon dioxide through emissions trading contributes greatly to achieving climate goals,” said Dirk Meissner, head of the German Federal Environment Agency, explaining that every ton of emissions has a price, and thus provides an impetus for restructuring society in a climate-friendly manner.