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The carbon surplus fell from 1.69 billion allowances to 1.15 billion while the reserve swallowed 2.7 billion

1148Allowances in circulation, millions201620172018201920202024

The total number of allowances in circulation as published by the Commission each May, in millions. The last step covers four years rather than one, because exact figures for 2021, 2022 and 2023 appear only as chart labels of 1.45, 1.13 and 1.11 billion in a Commission report, and no 2025 figure could be read. The 2024 figure is published as 1,148,049,585 in one document and as 1.15 and 1.14 billion elsewhere, and its publication date is given as both 28 May and 4 June 2025.

The published surplus of allowances in circulation has fallen every year it was measured except two. Cumulative intake into the stability reserve reached 2.7 billion allowances by the end of 2024, and 2024 auctions raised 38.8 billion euro.

1,148,049,585Allowances in circulation, 2024
1,693,904,897Same measure, 2016
2.7bnCumulative reserve intake to end 2024
EUR 38.8bnAuction revenue, 2024

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