Largest emitting companies in the EU ETS 2025
100 companies emitted 516 Mt CO2e in 2025, 50% of all verified EU ETS emissions. Source: Arcadium Data, data as of .
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| Operating company | Installations | Emissions 2025 | Free allocation | Allowances to buy |
|---|---|---|---|---|
| PGE Górnictwo i Energetyka Konwencjonalna S.A. | 5 | 43 Mt | 41 kt | 43 Mt |
| Lausitz Energie Kraftwerke AG | 7 | 39 Mt | 0.3 Mt | 39 Mt |
| RWE Power Aktiengesellschaft | 6 | 34 Mt | 0.4 Mt | 33 Mt |
| ThyssenKrupp Steel Europe AG | 15 | 15 Mt | 16 Mt | none |
| ENEA WYTWARZANIE SP. Z O.O. | 3 | 12 Mt | 4 kt | 12 Mt |
| ČEZ, a. s. | 10 | 11 Mt | 0.1 Mt | 11 Mt |
| voestalpine Stahl GmbH | 2 | 9.2 Mt | 7.1 Mt | 2.1 Mt |
| Equinor ASA | 24 | 8.8 Mt | 2.9 Mt | 5.9 Mt |
| ΔΕΗ Α.Ε | 24 | 8.6 Mt | 13 kt | 8.6 Mt |
| TAURON WYTWARZANIE S.A. | 6 | 8.6 Mt | 36 kt | 8.5 Mt |
| ORLEN S.A. | 4 | 8.2 Mt | 3.1 Mt | 5.1 Mt |
| Salzgitter Flachstahl GmbH | 6 | 7.0 Mt | 6.5 Mt | 0.5 Mt |
| Repsol Petróleo, S.A. | 4 | 6.9 Mt | 4.9 Mt | 2.0 Mt |
| Vattenfall Power Generation Netherlands B.V. | 7 | 6.8 Mt | 48 kt | 6.8 Mt |
| U. S. Steel Košice, s.r.o. | 2 | 6.5 Mt | 6.1 Mt | 0.4 Mt |
| Electrabel | 17 | 6.5 Mt | ||
| Hüttenwerke Krupp Mannesmann Gesellschaft mit beschränkter Haftung | 3 | 6.5 Mt | 6.3 Mt | 0.2 Mt |
| EDISON SPA | 10 | 6.3 Mt | 34 kt | 6.2 Mt |
| Naturgy Ciclos Combinados, S.L.U. | 11 | 6.1 Mt | ||
| EniPower S.p.A. | 4 | 6.0 Mt | 15 kt | 6.0 Mt |
| EnBW Energie Baden-Württemberg AG | 8 | 5.8 Mt | 62 kt | 5.7 Mt |
| ARCELORMITTAL FRANCE | 5 | 5.7 Mt | 6.8 Mt | none |
| Tata Steel IJmuiden B.V. | 1 | 5.7 Mt | 8.3 Mt | none |
| Sarlux Srl | 1 | 5.6 Mt | 2.1 Mt | 3.5 Mt |
| Uniper Kraftwerke GmbH | 16 | 5.6 Mt | 59 kt | 5.5 Mt |
| PGNiG TERMIKA S.A. | 4 | 5.1 Mt | 0.4 Mt | 4.6 Mt |
| Unión Eléctrica de Canarias Generación, S.A.U. | 11 | 5.0 Mt | ||
| TOTALENERGIES RAFFINAGE FRANCE | 6 | 5.0 Mt | 3.0 Mt | 1.9 Mt |
| ArcelorMittal Bremen GmbH | 7 | 4.9 Mt | 4.7 Mt | 0.2 Mt |
| ArcelorMittal Belgium | 4 | 4.8 Mt | 7.5 Mt | none |
| BASF SE | 42 | 4.8 Mt | 3.4 Mt | 1.4 Mt |
| ARCELORMITTAL ESPAÑA, S.A. | 4 | 4.8 Mt | 5.4 Mt | none |
| SSAB EMEA AB | 4 | 4.7 Mt | 4.4 Mt | 0.3 Mt |
| S Complexul Energetic Oltenia SA | 3 | 4.6 Mt | ||
| ENEL PRODUZIONE S.p.A. | 15 | 4.3 Mt | ||
| Elektrárna Počerady, a.s. | 1 | 4.2 Mt | 1 kt | 4.2 Mt |
| SHELL Nederland Raffinaderij B.V. | 1 | 4.2 Mt | 3.0 Mt | 1.2 Mt |
| Vattenfall Wärme Berlin Aktiengesellschaft | 18 | 4.0 Mt | 0.3 Mt | 3.7 Mt |
| Saale Energie GmbH | 1 | 4.0 Mt | 78 kt | 3.9 Mt |
| Ruhr Oel GmbH | 2 | 3.9 Mt | 2.5 Mt | 1.4 Mt |
| SSAB Europe Oy | 2 | 3.9 Mt | 3.4 Mt | 0.6 Mt |
| Großkraftwerk Mannheim Aktiengesellschaft | 1 | 3.8 Mt | 64 kt | 3.7 Mt |
| AES-3C Maritza East 1 | 1 | 3.7 Mt | ||
| ΕΛΛΗΝΙΚΑ ΠΕΤΡΕΛΑΙΑ Δ.Ε.Π.Π.Π. Α.Ε. | 3 | 3.7 Mt | 2.5 Mt | 1.2 Mt |
| ROGESA Roheisengesellschaft Saar mbH | 1 | 3.6 Mt | 6.3 Mt | none |
| RWE Eemshaven Holding II B.V. | 1 | 3.6 Mt | ||
| ARCELORMITTAL MEDITERRANEE | 1 | 3.5 Mt | 3.6 Mt | none |
| ORLEN Unipetrol RPA s.r.o. | 5 | 3.5 Mt | 1.6 Mt | 1.9 Mt |
| TotalEnergies Refinery Antwerp | 1 | 3.4 Mt | 2.4 Mt | 1.0 Mt |
| PCK Raffinerie GmbH | 1 | 3.3 Mt | 1.3 Mt | 2.0 Mt |
| ENI S.P.A. | 12 | 3.2 Mt | 2.1 Mt | 1.1 Mt |
| Deutsche Lufthansa AG | 1 | 3.2 Mt | 0.6 Mt | 2.6 Mt |
| Acciaierie d'Italia S.p.A. | 3 | 3.2 Mt | 4.4 Mt | none |
| Electricity Authority of Cyprus | 3 | 3.2 Mt | ||
| Yara Sluiskil B.V. | 1 | 3.1 Mt | 2.8 Mt | 0.3 Mt |
| B.A.S.F. Antwerpen | 1 | 3.0 Mt | 3.3 Mt | none |
| DOW Benelux B.V. | 1 | 3.0 Mt | 1.8 Mt | 1.2 Mt |
| Buzzi Unicem S.r.l. | 8 | 3.0 Mt | 2.9 Mt | 66 kt |
| PGE Energia Ciepła S.A. | 10 | 2.9 Mt | 0.2 Mt | 2.7 Mt |
| Heidelberg Materials AG | 7 | 2.9 Mt | 2.9 Mt | 8 kt |
| Iren Energia S.p.A. | 11 | 2.8 Mt | 99 kt | 2.7 Mt |
| Raffineria di Milazzo S.C.p.A. | 3 | 2.8 Mt | 1.6 Mt | 1.2 Mt |
| Chemelot Site Permit B.V. | 1 | 2.8 Mt | 3.5 Mt | none |
| ENGIE Energie Nederland N.V. | 3 | 2.8 Mt | ||
| OMV PETROM SA | 4 | 2.8 Mt | 0.5 Mt | 2.2 Mt |
| voestalpine Stahl Donawitz GmbH | 1 | 2.8 Mt | 2.1 Mt | 0.7 Mt |
| ITALCEMENTI S.P.A. | 7 | 2.7 Mt | 2.4 Mt | 0.4 Mt |
| Compañía Española de Petróleos, S.A. | 3 | 2.7 Mt | 2.5 Mt | 0.2 Mt |
| OMV Downstream GmbH | 1 | 2.6 Mt | 1.7 Mt | 1.0 Mt |
| Aboño Generaciones Eléctricas, S.L.U. | 1 | 2.6 Mt | ||
| AdI Energia S.r.l | 1 | 2.6 Mt | ||
| Mineralölraffinerie Oberrhein GmbH & Co. KG | 1 | 2.6 Mt | 1.8 Mt | 0.8 Mt |
| easyJet Europe Airline GMBH | 1 | 2.6 Mt | 0.4 Mt | 2.1 Mt |
| TŘINECKÉ ŽELEZÁRNY, a. s. | 2 | 2.5 Mt | 3.4 Mt | none |
| Esso Nederland B.V. | 1 | 2.5 Mt | 2.0 Mt | 0.5 Mt |
| Cementos Portland Valderrivas, S.A. | 6 | 2.5 Mt | 2.5 Mt | 36 kt |
| A2A GENCOGAS S.P.A. | 6 | 2.5 Mt | 1 kt | 2.5 Mt |
| Enefit Power AS | 4 | 2.4 Mt | 1.0 Mt | 1.4 Mt |
| Uniper Benelux N.V. | 9 | 2.4 Mt | 50 kt | 2.4 Mt |
| RWE Generation SE | 6 | 2.4 Mt | 77 kt | 2.3 Mt |
| Dyckerhoff GmbH | 6 | 2.4 Mt | 2.3 Mt | 48 kt |
| Endesa Generación, S.A. | 7 | 2.4 Mt | ||
| Shell Deutschland GmbH | 2 | 2.3 Mt | 1.9 Mt | 0.4 Mt |
| Sorgenia Power SpA | 3 | 2.3 Mt | ||
| Trianel Kohlekraftwerk Lünen GmbH & Co. KG | 1 | 2.3 Mt | 2 kt | 2.3 Mt |
| INEOS Manufacturing Deutschland GmbH | 8 | 2.3 Mt | 1.6 Mt | 0.7 Mt |
| Iberdrola Generación Térmica, S.L. | 6 | 2.3 Mt | ||
| Elektrárna Chvaletice a.s. | 1 | 2.3 Mt | 1 kt | 2.2 Mt |
| Neste Oyj | 1 | 2.2 Mt | 1.9 Mt | 0.4 Mt |
| Rheinkalk GmbH | 5 | 2.2 Mt | 1.6 Mt | 0.6 Mt |
| SLOVNAFT, a.s. | 3 | 2.2 Mt | 1.2 Mt | 1.0 Mt |
| Power Plant Rotterdam B.V. | 1 | 2.2 Mt | ||
| Eurowings GmbH | 1 | 2.2 Mt | 0.4 Mt | 1.8 Mt |
| EDF SA | 39 | 2.2 Mt | 0 kt | 2.2 Mt |
| Petróleos de Portugal - Petrogal S.A | 1 | 2.2 Mt | 1.5 Mt | 0.7 Mt |
| SKW Stickstoffwerke Piesteritz GmbH | 4 | 2.2 Mt | 1.6 Mt | 0.6 Mt |
| SHELL Nederland Chemie B.V. | 2 | 2.2 Mt | 1.7 Mt | 0.5 Mt |
| EP Centrale Tavazzano Montanaso S.pA. | 1 | 2.2 Mt | ||
| COLACEM SPA | 5 | 2.2 Mt | 1.8 Mt | 0.3 Mt |
| Exxonmobil Petroleum & Chemical | 3 | 2.2 Mt | 1.5 Mt | 0.7 Mt |
Emissions are verified EU Emissions Trading System emissions in tonnes of CO2 equivalent for 2025: the installations, aircraft operators and shipping companies covered by the ETS, not a company's total footprint (no scope 2 or 3, no sites outside the ETS). Free allocation is the free allowances allocated for the same year; "allowances to buy" is emissions minus free allocation, the exposure that grows as free allocation is phased out under CBAM from 2026. Companies only: an account holder that is not a company is never shown. Data as of 2026-10-25, updated yearly.
Emissions and allocation: European Commission, Union Registry of the EU ETS (verified emissions, free allocation, compliance and the list of operators; Commission reuse policy, CC BY 4.0). Parent company and pollutant releases of facilities: European Environment Agency, Industrial Emissions Portal (CC BY 4.0). Legal-entity identifiers: GLEIF (CC0).
Cite as: Arcadium Data, "Top emitters in the EU ETS 2025: the 100 largest companies", https://arcadiumdata.io/emissions/top-emitters/, data as of 2026-10-25.