With emissions data now 99.9% complete, Sandbag has updated our presentation analysing the EUETS in 2014. The emissions total is almost exactly what Sandbag estimated back on 1-April when only 90% of data was available. Since then, CER offsets and allocation data has also been updated, so it is now possible to comment on surpluses.
The data shows the surplus fell only 10mt in 2014 despite the temporary removal of allowances under the backloading legislation. Our presentation also shows sectorial analysis, with many sectors are still being handed more free permits than their emissions.
Read the full presentation here.