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EMISSIONS: EU Utilities See 2040 as Net Zero Baseline

EMISSIONS

European utilities have kept their net zero targets despite a rebound in coal consumption due to the region’s energy crisis, with 2040 being the baseline for EU utilities’ net zero targets according to Bloomberg Intelligence. 

  • See chart 1 for comparison table on net zero targets.
  • EU utilities held 58% of the EU carbon allowances last year, with Germany’s RWE being the largest emitter of CO2 under EU ETS (chart 20). 
     
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European utilities have kept their net zero targets despite a rebound in coal consumption due to the region’s energy crisis, with 2040 being the baseline for EU utilities’ net zero targets according to Bloomberg Intelligence. 

  • See chart 1 for comparison table on net zero targets.
  • EU utilities held 58% of the EU carbon allowances last year, with Germany’s RWE being the largest emitter of CO2 under EU ETS (chart 20).