SUBSCRIBE
PROFILE

EU GHG emissions fall despite rising GDP

In the first quarter of 2023, greenhouse gas emissions in the European Union (EU) totaled 941 million mtCO2e, down almost 3% on the same period last year, according to Eurostat. This decrease coincides with a 1.2% increase in EU GDP over the same period, as reported by the bloc's statistical agency.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99$/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

EU greenhouse gas emissions totaled 941 million mtCO2e in the first quarter of 2023. Down almost 3% on the same quarter of the previous year, Eurostat reported on August 16.

Greenhouse Gas Emissions in Europe: First Quarter 2023 in view

“This decline took place simultaneously with a 1.2% increase in EU GDP in the first quarter of 2023, compared with the same quarter of 2022,” the bloc’s statistical agency said in a statement.

The economic sectors responsible for most greenhouse gas emissions during this period were: Households (24%)Manufacturing (20%), Electricity and gas supply (19%), Agriculture (13%) and Transportation and storage (10%).

Emissions in the first quarter of 2023 fell in almost all EU countries compared with the same quarter of 2022. Except in Ireland, Latvia, Slovakia, Denmark, Sweden and Finland. The biggest reductions in GHG emissions were seen in Bulgaria, Estonia and Slovenia. Emissions in the fourth quarter of 2022 were 938 million mtC02e. This represents a decline of 4% compared with the fourth quarter of 2021.

Towards a Climate Neutral Europe: EU Emission Reduction Targets Explored

The European Council has set a target for the EU to reduce its greenhouse gas emissions by at least 55% by 2030, compared with 1990 levels. And become climate neutral by 2050. The fall in emissions in the first quarter took place against a backdrop of steadily rising European carbon prices under the EU Emissions Trading Scheme.

EUAs for the December 2023 contract averaged 90.13 euros/mtCO2e in Q1 2023, compared with 83.09 euros/mtCO2 in Q1 2022, according to Platts data. The EUA reached a record level of 100.23 euros/mtCO2e on February 23, according to Platts data. Demand for EEE was also strong. The European Council recently agreed to reform the ETS. Increase carbon reduction ambitions for 2030, detail the abolition of free quotas. Confirm the inclusion of maritime transport and a new ETS II for buildings and road transport. Carbon pricing schemes, such as the EU ETS, are seen as a cost-effective way of reducing greenhouse gas emissions.

The cap-and-trade system limits the amount of emissions covered by different sectors. It accounts for around 45% of the bloc’s total greenhouse gas emissions. Companies can buy and sell carbon permits known as EU allowances. Which can be traded for each tonne of CO2 they emit.

  • Popular on energynews.pro
Fossil fuel divisions block adoption of major UN report
EDF power solutions joins a 1.1GW solar and storage project in Egypt
Citgo shifts under Elliott control for $5.9bn pending U.S. approval
ExxonMobil shuts down steam cracker in Singapore and redirects assets to China
Green Plains injects CO2 from Nebraska into Wyoming and receives $14mn payment
India cancels 6.3 GW of renewable connections, signalling regulatory shift
India’s central authority has cancelled 6.3 GW of grid connections for renewable projects since 2022, marking a tightening of regulations and a shift in responsibility back to developers.
Brazil launches roadmap to reduce its dependence on oil
The Brazilian government has been instructed to define within two months a plan for the gradual reduction of fossil fuels, supported by a national energy transition fund financed by oil revenues.
Germany delays RED III directive, retroactive enforcement now likely
The German government may miss the January 2026 deadline to transpose the RED III directive, creating uncertainty over biofuel mandates and disrupting markets.
Italy awards 8.6GW in renewables in Fer-X tender
Italy allocated 82% of the proposed solar and wind capacities in the Fer-X auction, totalling 8.6GW, with competitive purchase prices and a strong concentration of projects in the southern part of the country.
Paris appoints Jean-Bernard Lévy to review subsidies for renewables
Amid rising public spending, the French government has tasked two experts with reassessing the support scheme for renewable electricity and storage, with proposals expected within three months.
Polish army joins efforts to secure power grid against drone threats
National operator PSE partners with armed forces to protect transformer stations as critical infrastructure faces sabotage linked to foreign interference.
Norway launches a commission to plan the post-oil era
The Norwegian government establishes a commission to anticipate the decline of hydrocarbons and assess economic options for the country in the coming decades.
Kazakhstan launches tenders for 3 GW of renewable capacity by 2026
Kazakhstan plans to allocate 3 GW of wind and solar projects by the end of 2026 through public tenders, with a first 1 GW tranche in 2025, amid efforts to modernise its power system.
Power outages in the United States reach record 11 hours per customer in 2024
Hurricanes Beryl, Helene and Milton accounted for 80% of electricity outages recorded in 2024, marking a ten-year high according to federal data.
France: the CRE launches a transitional mechanism to regulate suppliers
The French Energy Regulatory Commission introduces a temporary prudential control on gas and electricity suppliers through a “guichet à blanc” opening in December, pending the transposition of European rules.
Carney and Smith unlock pipeline to Asia and amend tanker ban law
The Carney–Smith agreement launches a new pipeline to Asia, removes oil and gas emission caps, and initiates reform of the Pacific north coast tanker ban.
Post-CfD renewable assets expose investors to increased market risk
The gradual exit from CfD contracts is turning stable assets into infrastructures exposed to higher volatility, challenging expected returns and traditional financing models for the renewable sector.
Canada reforms Energy Efficiency Act to align policy with digital markets
The Canadian government introduces major legislative changes to the Energy Efficiency Act to support its national strategy and adapt to the realities of digital commerce.
Quebec maintains sole carbon price at the pump despite federal tax repeal
Quebec becomes the only Canadian province where a carbon price still applies directly to fuels, as Ottawa eliminated the public-facing carbon tax in April 2025.
India invests $872mn to locally produce rare earth permanent magnets
New Delhi launches a 72.8 bn INR incentive plan to build a 6,000-tonne domestic capacity for permanent magnets, amid rising Chinese export restrictions on critical components.
Long-term contracts reshape electricity market risk over 30 years amid volatility
The rise of CfDs, PPAs and capacity mechanisms signals a structural shift: markets alone no longer cover 10–30-year financing needs, while spot prices have surged 400% in Europe since 2019.
Berlin plans to acquire 25.1% of TenneT Germany by early 2026
Germany plans to finalise the €5.8bn ($6.34bn) purchase of a 25.1% stake in TenneT Germany to strengthen its control over critical national power grid infrastructure.
Ghana restructures its power sector around domestic gas to contain deficit
The Ghanaian government is implementing a reform of its energy system focused on increasing the use of local natural gas, aiming to reduce electricity production costs and limit the sector's financial imbalance.
Suriname targets 220,000 barrels per day in oil strategy by 2028
On the 50th anniversary of its independence, Suriname announced a national roadmap including major public investment to develop its offshore oil reserves.
South Korea under pressure from the IEA to liberalise its electricity market
In its latest review, the International Energy Agency warns of structural blockages in South Korea’s electricity market, calling for urgent reforms to close the gap on renewables and reduce dependence on imported fossil fuels.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

START - 99$/year

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.