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EMISSIONS: Finland allocates €143.2mn in 2024 to Support Carbon-Intensive Sector

EMISSIONS
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Finland allocated €143.2mn in 2024 for electrification support to energy-intensive industries, including forestry, metals, chemicals, and glass fibre, to reduce carbon leakage and promote carbon-neutral production, according to the Finnish Energy Authority.

  • This was up from €117.7mn allocated in 2023, with the support anticipated to continue annually through to 2026.
  • The increase in support applications for 2024, compared to 2023, was driven by a rise in the forward price of emission allowances, which climbed to €81.21/t CO2e from €24.83/t CO2e.
  • A total of €78mn was allocated to 35 forest industry plants, while €41.9mn went to 7 metal industry plants.
  • Additionally, €23.1mn was paid to 12 chemical industry plants, and €0.1mn was granted to a single glass fibre manufacturer.
  • UPM-Kymmene Corporation received the largest share, with six plants receiving a total of €29.3mn.

 

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Finland allocated €143.2mn in 2024 for electrification support to energy-intensive industries, including forestry, metals, chemicals, and glass fibre, to reduce carbon leakage and promote carbon-neutral production, according to the Finnish Energy Authority.

  • This was up from €117.7mn allocated in 2023, with the support anticipated to continue annually through to 2026.
  • The increase in support applications for 2024, compared to 2023, was driven by a rise in the forward price of emission allowances, which climbed to €81.21/t CO2e from €24.83/t CO2e.
  • A total of €78mn was allocated to 35 forest industry plants, while €41.9mn went to 7 metal industry plants.
  • Additionally, €23.1mn was paid to 12 chemical industry plants, and €0.1mn was granted to a single glass fibre manufacturer.
  • UPM-Kymmene Corporation received the largest share, with six plants receiving a total of €29.3mn.