Carbon Market Watch agenda outlines our priorities and key political milestones for the next months.
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After 20 years of the EU Emissions Trading System (EU ETS), European heavy industry is still not paying the price of their
Launched during a summer of fossil-fuelled climate breakdown marked by heatwaves and wildfires, the European Commission’s carbon market revision backtracks on climate action. The new proposal actively weakens the effectiveness of Europe’s flagship climate policy, and risks undermining the achievement of the EU’s 2040 and 2050 climate targets.
Although the European Commission is meant to carry out a thorough impact assessment before proposing new policies, the European Union’s policymaking process is increasingly being influenced by business lobbies and guided by political expediency and whim. This approach will result in serious negative consequences.
The European Union has struck a deal on its 2040 climate target which, on paper, maintains the headline goal of slashing emissions by 90% but allows loopholes and backdoors that will result in hundreds of millions of tonnes of additional domestic emissions.
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