Subject

What happens to the annual 120 billion € proceeds from ETS auctions?

Last edit: 20 September 2022
By

Brigitte Van Gerven 2

I am a volunteer climate activist, advocating "Climate Income"= Price Pollution – Pay People.

What should be researched?

A few years ago, a CO2 emission allowance cost €5/tonne. Now the price has risen to >80 €/tonne.
In the EU, 1500000000 allowances are auctioned or given away for free annually.
Market value increased from €7.5 billion to €120 billion/year. We need a public debate on how this money is spent, for 2 reasons:
- Social justice. 120 billion €/year can be used to support a lot of people.
- If the money is given back to polluters, incentives to decarbonize disappear and EU climate policy is undermined.

Who is affected?

All EU citizens + the climate

Why should this story be researched?

Without a transparent and consistent climate policy, we waste resources, antagonize people, and we will fail stopping climate change

Where does this story take place?

The whole of Europe

4 Contributions

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John Janssen 4

knowledge or experience
Hai Brigitte,
Commodity trading house's like Trafigura/Mercuria/Glencore/Vitol are among the big boy's that trade in these Carbon Credit's.
What I find verry odd and in a certain manner far from correct, is that all these trading giant's claim to be sustainable and 'green'. However, they move a lot of their commidities like oil/gas/grain/coal/iron ore around the world in large sea-going vessels.
They often have a company under the Holding umbrella (Mercuria=Minerva) who still supply these vessel under their charter with HSFO, for which they offer Carbon Credits to 'ease the pain for the environment'.
How manny carbon credits will have to be issued/metric ton of Fuel Oil to settle against the pollution caused?
Will these carbon credits be 'taken off' the quantity that is outstanding for the company that will issue the credit's? Who is checking the accounts issued/ used and remaining?

Kind regards,
John Janssen
Carbon Credits are a whole different chapter. If you have time, investigate. If you don't have time, replace the words "carbon credits" with "scam" everywhere you encounter them.
The problem with carbon credits is that they rely on "intentions".
If I have a forest and I intend to cut it down, you can buy carbon credits from me and in return I won't cut down the forest. I have gained some money (by doing nothing!) and you have gained the right to emit more CO2.
REAL carbon offsetting is: taking CO2 out of the air and storing it somewhere permanently. That costs hundreds of euros per tonne. International carbon offsets cost 30 euroCENT per tonne. That says it all.

It does make for a great story though

https://www.cambridge.org/core/services/aop-cambridge-core/content/view/49D99FBCBD6FCACD5F3D58A7ED80882D/9781108479370AR.pdf/The_Citizen_s_Guide_to_Climate_Success.pdf#page=181
Hallo Brigitte, ik heb helaas geen mogelijkheid om mee te werken aan het onderzoek binnen je pitch, maar ik zou wel graag een stem uitbrengen op je onderzoeksvoorstel. Helaas ‘mis’ ik de optie om dit vanuit de webpagina van FTM te doen. Kun je aangeven hoe dat (tegenwoordig) werkt? Is het delen van je pitch via social media de wijze waarop dat werkt?

In elk geval succes met je onderzoeksvoorstel! Uit ervaring weet ik dat de journalisten van FTM zich echt vastbijten in de materie en gedegen artikelen publiceren. Ik hoop dat ze dat ook gaan doen met jouw voorstel.

Groetjes, Richard van den Akker,
winnaar FTM pitch Brabant 2019
Hallo Richard, ik geloof dat de periode om te stemmen al afgelopen is. Maar bedankt voor je steun !

Mijn inziens is de vraag naar wat er gebeurt met klimaatgeld essentieel. Zowel voor de effectiviteit van het EU klimaatbeleid als voor de kwestie van sociale rechtvaardigheid. Als je de mensen niet steunt in de energietransitie, als ze de (terechte?) indruk krijgen dat Europa lukraak geld uitdeelt aan degene met de meeste lobbykracht in plaats van een consistent en transparant klimaatbeleid te voeren, dan keren de mensen zich af van klimaatbeleid én van de EU, en dan is onze kans verkeken om het klimaat te redden.