Vicat sitting on carbon credit mine

Vicat sitting on carbon credit mine

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 5 MT of CO2, valued at Euro 120 million at the current market price. "It covers our activity in France and Switzerland and we will still be in a surplus position in 2030,"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 per cent compared to 1990. The objective is a further decrease of 13 per cent between today and 2030.

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