COVID-19 and long-term decarbonization for industry: an opportunity to mitigate future costs

FORBES | Industrial production and electricity demand in Europe have dropped dramatically as a result of the coronavirus outbreak. This has also led to a drop in emissions. While the effects cannot be quantified precisely yet, recent estimates from market analysts suggest that emissions could easily fall by up to 25% in 2020. The EU emissions trading system (ETS) was operating with over 1.6 billion metric tons of allowances in circulation; the additional excess supply, assuming a quick recovery, does not significantly change that. What could significantly affect the balance between supply and demand is how long the downturn lasts and the trajectory of any recovery.

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