Related content for project "Funding Climate Action: the EU Emissions Trading System and its Auctioning Revenues" (project ID 2596)
Ecologic Institute developed an easy-to-use web tool that displays ETS auctioning revenue data for the EU Member States since the beginning of the third trading period in 2013. The intuitive and navigable web interface allows the user to visualize and compare revenues by country and year using one or more graphical representations. The tool incorporates multiple indicators including type of use, share used in/outside the EU, actions in/outside the EU and channels used to support developing countries.
Member States earned close to EUR 12 billion from auctioning in the EU Emissions Trading from 2013 to 2015 with over 80% of the money so far spent on climate action – most of it in the EU. The funding mainly went to renewables, efficiency and cross-cutting programmes. The national reports on the use of auctioning revenues, however, contain mistakes while there seems to be no frequent quality review at present. The summary report is available for download.
Reaching an emissions pathway consistent with the Paris Agreement requires a transformation of the economy and entails significant public and private expenditure. Auctioning revenue generated by the EU Emissions Trading System (ETS) could contribute a critical share of this funding. Ecologic Institute was tasked by WWF European Policy Office (EPO) to execute a series of studies on how auctioning revenues are used by EU Member States for climate finance and what impact proposed reforms to the instrument may have going forward. The key aims of the project are to show the use of auctioning revenues by Member States and assess how reforms to the EU ETS affect auctioning revenues and use.