Dear Sir or Madam,
Greenhouse gas emissions in Germany fell only slightly in 2025 compared with the previous year, by just under one million tonnes, or 0.1 per cent, to 649 million tonnes of CO₂ equivalents. Since 1990, emissions have thus been reduced by 48 per cent.
The energy sector reduced its emissions thanks to increased use of renewable energy; however, transport and buildings caused more emissions. German forests are now once again absorbing more CO₂ than they release. Overall, the climate target remains achievable by 2030, but this will require additional climate protection measures: from 2026 onwards, the annual reduction must average 42 million tonnes of CO₂ to meet the climate protection targets.
In 2025, emissions from the energy sector fell by 0.6 million tonnes to 189.1 million tonnes of CO₂ equivalents. The expansion of wind and solar energy increased, but low-wind conditions resulted in less wind power than in the previous year. A record figure of nearly 21 gigawatts of new wind power permits was recorded. The Federal Network Agency also granted approvals for 2,000 kilometres of new power lines.
The transport and buildings sectors, which are subject to pricing under the national emissions trading scheme, remain problematic. In 2025, the transport sector generated 146.3 million tonnes of CO2 equivalents – an increase of 2.1 million tonnes. Electric mobility grew strongly and prevented an even greater rise in emissions. Over 180,000 public charging points are now available and almost one in five new cars is fully electric – an increase of 45 per cent compared to 2024. New models, high fuel costs and government subsidies could further drive this trend.
Last year, emissions in the buildings sector rose by 3.4 million tonnes to 103.4 million tonnes of CO₂ equivalents, mainly due to cold heating periods. The switch to climate-friendly energy sources is progressing slowly, but heat pumps are gaining acceptance and, for the first time, have overtaken gas heating systems with 299,000 sales – a 55 per cent increase on the previous year. Technological progress, falling costs and more installation options are driving this development.
Last year, industrial emissions fell to 144.1 million tonnes of CO₂ equivalents, mainly due to the persistently weak economy – that is 5.6 million tonnes or 3.8 per cent less than the previous year. The main factors were lower production figures in energy-intensive sectors and a decline in the use of fossil fuels. Key future technologies here too are electrification, green hydrogen and low-carbon processes, although their implementation has so far progressed only slowly.
Greenhouse gas emissions from agriculture and waste management, by contrast, remained virtually unchanged compared with 2024.
Last week, prices in the European Union Emissions Trading System (EU ETS) benchmark contract fluctuated within a range of €67.60 to €74.48, closing at €69.16 – a moderate decrease of 2% compared to the previous week.
As in previous weeks, the war in the Middle East was the key driver, particularly affecting prices in the energy markets and consequently influencing industrial production and consumer behaviour.
The US and Israel have so far failed to secure the Strait of Hormuz for the passage of tankers, which continues to disrupt a fifth of global oil trade.
A swift end to the war is currently not expected, as Iran still has sufficient capacity to defend itself and to launch additional attacks on US-allied states in the region.
As long as this situation persists, prices for crude oil, gas and the associated refinery products such as heating oil, diesel and petrol will remain at a high level.
Provided there are no further fundamental developments regarding the Middle East conflict and no new political statements on the EU ETS, it is highly likely that EUAs will continue to trade in the broad range of around 70 euros this week.
A total of 10,755,000 EUAs will be auctioned on the EEX across all five trading days this week.
| Instrument | 06/03/26 | 13/03/26 | Change |
| EUA (December-26-Future) | 70.57 EUR | 69.16 EUR | -1.41 EUR |
| EUA2 (December-28-Future) | 68.50 EUR | 66.46 EUR | -2.04 EUR |
| nEZ25 (national Emission Allowances (D)) | 55.00 EUR | 55.00 EUR | +0.00 EUR |
| UKA (December-26-Future (UK)) | 40.09 GBP | 39.54 GBP | -0.55 GBP |
| UK Natural Gas (December-26-Future) | 123.67 GBP | 122.19 GBP | -1.48 GBP |
| ICE Brent Crude Oil (December-26-Future) | 74.17 USD | 81.97 USD | +7.80 USD |
| EURO (Forex) | 1.1618 USD | 1.1417 USD | -0.0201 USD |
(EUA, EUA2, UKA, Natural Gas, Crude Oil and Euro Currency shows day-end-exchange quotes of the benchmark contract. This market information has just an informational character and are no advice or offer to trade emission allowances or their futures and options. If you want to unsubscribe, please reply to this mail.)
Please call our international carbon desk if any further questions exist: +49.2831.1348220 or book here a call with one of our specialists.
With kind regards,
Your Advantag – Team