Emissions trading brings the tax authorities billions in Germany

Emissions trading brings the tax authorities billions in Germany

In 2020, the German state earned almost 2.7 billion euros from the sale of emission rights for the greenhouse gas carbon dioxide. That is around half a billion euros less than in 2019. The Federal Environment Agency is nevertheless satisfied with the result. "Despite the slight Corona slump from March to May, the prices for European emission allowances are generally stable," said Jürgen Landgrebe, head of the emissions trading office at the Federal Environment Agency. The money is used to finance measures for the energy transition. Power plants and other industrial plants require the authorizations - they have to submit a certificate to the emissions trading office for each tonne of CO2 emitted. Germans can acquire the so-called pollution rights at auctions on the energy exchange in Leipzig. Prices there have risen sharply in recent years. While a certificate initially cost less than 10 euros, an annual average of almost 25 euros was due in 2020. At the auction, the price even rose to 30.45 euros.