Chemicals firm Borealis sees EU ETS emissions creep higher in 2015

Published 13:14 on March 4, 2016  /  Last updated at 13:37 on March 4, 2016  /  EMEA, EU ETS  /  No Comments

Austrian chemicals, plastics and fertiliser maker Borealis on Friday reported marginally higher emissions in 2015 compared to a year earlier.

Austrian chemicals, plastics and fertiliser maker Borealis on Friday reported marginally higher emissions in 2015 compared to a year earlier.

In its earnings report for 2015, the Vienna-headquartered firm said its emissions covered under the EU ETS grew to 4.27 million tonnes of CO2e in 2015, up slightly from 4.25 million in 2014.

However, output remained well above levels of 2.48 million tonnes in 2013 and 1.48 million in 2012.

Borealis did not report quantitative carbon unit holdings but said it received free EUAs with a fair value of €30.3 million from government in 2015, compared to €47 million in 2014.

It added that it did not purchase any CO2 rights from third parties.

The company also reported that it last year surrendered an equivalent of €29.7 million worth of carbon units against its 2014 emissions, which was up from €21.2 million’s worth the year prior.

Borealis is majority owned by Abu Dhabi’s sovereign wealth fund IPIC, while Austrian energy company OMV controls 36%.

By Mike Szabo – mike@carbon-pulse.com

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