Record Decline in CO₂ Emissions from Major Industries and Aviation: Causes and Implications

The year saw a significant decrease in CO₂ emissions from major industry and aviation, with the largest drop since the financial crisis. This decline can be attributed to the slowdown in the industry. Energy-intensive companies in our country emitted 4.26 million tons less of greenhouse gases compared to the previous year, representing a reduction of 10.5 percent. This figure is measured in CO₂ equivalents, which takes into account the impact of all greenhouse gases converted into CO₂ impact.

At the European level, the decline was even more pronounced, at 15.5 percent. These figures pertain to companies under the European Emissions Trading System (ETS), which includes major cement and steel producers, chemical installations, refineries, power stations, and intra-European airlines. Companies falling under ETS must provide an emission allowance for every ton of emissions they produce, which is recorded in the greenhouse gas register. In Belgium, over 280 industrial installations and power plants are subject to emissions trading, along with intra-European flights, representing around 40 percent of all CO₂ emissions in the country.

The decline in emissions is largely attributed to the industry’s slowdown due to high energy prices and weak demand leading many industrial companies to reduce production. Despite a 77 percent increase in production in the chemicals, plastics, and pharmaceutical sectors since 2004, greenhouse gas emissions remained stable due to a focus on producing energy more efficiently by industries contributing towards overall decrease in emissions.