From 2031-2040, decarbonising industrial production will require investment estimated at €46 billion per year. More than 60% of this investment will be concentrated in chemicals, basic metals and non-metallic minerals (Table 1, in EUR billion).

Between 2013 and 2023, ETS emissions fell by 36%, led by a -44% in the power sector, while industrial emissions declined by 17%. The slower progress in cutting industrial emissions can be attributed partly to free carbon allowances – a benefit the power sector does not receive (Figure 2).

In my latest #Bruegel analysis, I explore three key challenges in phasing down free #ETS allowances for the EU energy-intensive sectors:
1️⃣ Export competitiveness
2️⃣ #CBAM's sectoral coverage
3️⃣ Geographical misallocation of industrial subsidies within the EU

Shocking numbers in the latest ENEA report on the Italian Superbonus.

Capital constraints and coordination issues have likely crippled the rate of adoption in multi-apartment buildings (vs single-family houses).

8 castles also benefitted from the 110% tax credit.