The CO2 emission intensity of electricity use in a country is determined by the combination of generation technologies used to satisfy the demand. In an interconnected electricity network, imports and exports between countries can be a significant contributor to the combination. In this thesis, we employ the Flow Tracing method to assess the carbon flow in the European electricity network based on the information made available by the European Network of Transmission System Operators for Electricity (ENTSO-E). The resulting data serves as basis for the employment statistical analysis methods, such as correlation, to ascertain whether a connection between electricity prices, CO2 emission intensity, and electricity trade can be identified. Analysis results imply a correlation between price and emissions and determine that trade has a large impact on a countries emission intensity. Moreover, we present a simple optimal scheduling problem with the goal of minimizing CO2 emissions caused by a simple daily task in different European countries. The optimisation is able to reduce the caused CO2 emissions by between 5% and 40%, meaning that there is potential for a Demand Response program to lessen the environmental impact of electricity use.