The Environment Committee of the European Parliament this morning voted to support a ‘back-loading’ of carbon emission allowances under the EU Emissions Trading Scheme (ETS). Following the vote, EURELECTRIC Secretary General Hans ten Berge made the following statement:
‘We are relieved to see that the Environment Committee has recognised the importance of strengthening the ETS in the short term through a back-loading of allowances. The back-loading can provide a vital signal to the carbon market – and also to international observers – that the EU is committed to a long-term strategy of driving carbon reduction through a strong ETS.
‘Nevertheless, the Parliament’s support today can only be a first step towards reinforcing the ETS in the longer term. Policymakers must now turn their attention to addressing structural measures that can provide a clear pathway for carbon emissions reduction beyond the third trading period and up to 2050.
‘We therefore urge the Commission to waste no time in pursuing structural changes that would firmly establish the ETS as the main policy instrument for driving investment choice in CO2 reduction. An early revision of the ETS annual linear reduction factor, in line with a firm, economy-wide 2030 CO2 reduction target, is the best means of achieving this objective.’
Source Euroelectric
