LONDON: Greenhouse gas emissions regulated under Europe's carbon market excluding aviation fell 12.6% last year, European Commission data examined by carbon analysts at Refinitiv showed.

Around 45% of the European Union's output of greenhouse gases is regulated by the Emissions Trading System (ETS), the bloc's flagship policy to tackle global warming by charging for the right to emit carbon dioxide (CO2).

The Refinitiv carbon analysts' interpretation of the data found stationary emissions covered by the scheme such as power plants and factories totalled 1.339 billion tonnes of CO2 equivalent (CO2e), down 12.6% on the previous year.

Emissions from power and heating generation fell by 17.1%, to 632.8 million tonnes, the analysts said on Thursday.