Germany Blocks Oil Companies From Using Past Emissions Credits

The German cabinet has approved reforms that will restrict oil companies from carrying excess emissions reduction credits forward, a move that will boost the country’s biofuel industry which has been impacted by a rapid drop in carbon prices in recent years. In recent years, oil companies operating in Germany have met emissions goals by selling extra biodiesel; with sales clocking in at 3.4 million metric tons in 2022, 34% above their target. However, the reforms mean that oil companies will no longer be able to use past greenhouse gas reduction...