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CO2 quota price at all-time high

Parking spot for CO2 efficient cars.
Parking spot for CO2 efficient cars. Source: Siim Lõvi /ERR

Thursday marks a record high for the price of CO2 permits in the European Emissions Trading System (ETS), which hits €96.35 per ton.

Early in August, the ETS price per ton of CO2 was still €76, and it was even lower in January 2021, at €30.

The quota price was close to €97 also last February.

Last year, Poland demanded a modification of the ETS and threatened to withdraw from it, arguing that the rapid price increase was due to market speculations and not the quota requirement for energy suppliers and industrial consumers.

Former Economic Affairs Minister Taavi Aas (Center) said that leaving the ETS while remaining in the EU is not an option, but that the reform of the system is required. However he did not receive widespread support for this from the European Union or the government.

Greenhouse gas emissions permits, commonly referred to as CO2 allowances or carbon certificates, are tradable rights, where a unit represents one tonne of CO2 that was not released into the atmosphere.

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Editor: Kristina Kersa

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