France: French press has reported that Vicat, the last remaining cement producer in French hands, has accumulated a large stockpile of EU Emissions Trading Scheme (ETS) credits, sufficient to last it until 2030. It says that this makes it unique among cement producers covered by the scheme. It has never sold any of the credits that it was over-allocated in the first three stages of the ETS. It is thought that this will put it at a competitive advantage from the start of stage 4 in January 2021, when free allowances for the sector will become significantly scarcer.
Vicat has a stock of credits that represent 5Mt of CO2, valued at Euro120m at the current market price. "It covers our activity in France and Switzerland and we will still be in a surplus position in 2030. We are entering the next European regulatory phase in a good condition," said CEO Guy Sidos.
Vicat is keen to point out that this does not mean it is complacent or will pollute at all costs. "At the end of 2019, we reduced our CO2 emissions by 15% compared to 1990. The objective is a further decrease of 13% between today and 2030," explained Sidos.
