Return of the Allowances – Fixing the EU carbon market rules to drive industrial innovation
Date and Time: 15.00-16.30 CEST, 07 June 2021 (online).
Watch the recording here or on YouTube
The EU’s Emissions Trading System (EU ETS) is Europe’s main instrument to reduce carbon pollution from the power and industrial sectors. Over the years, it has helped to drive down the use of coal. However, when it comes to heavy industry, the carbon market has failed to incentivise the drastic emission reductions needed for the EU to reach its climate goals.
The failure to reduce emissions in sectors like steel, cement and chemicals is to a large extent due to over-generous free allocation of pollution permits. In fact, some sectors and companies have used the current system to their advantage – profiting from a scheme meant to make the polluter pay.
At this online event, an expert panel of policymakers, industry, academia and NGO representatives will discuss how the upcoming revision of the rules can ensure that the scheme incentivises clean innovation and full industrial decarbonisation in this decade. The event will present the key findings of a new report by CE Delft analysing the unexpected profits that sectors and companies have made under the EU carbon market between 2008-2019.
Presentation of the report “Additional profits of sectors and firms from the EU ETS 2008-2019“ by Sander de Bruyn, Program Manager, Environmental Economics, CE Delft
- Mohammed Chahim, Member of the European Parliament, S&D Group
- Outi Haanperä, Leading Specialist, Climate and nature solutions, Sitra
- Ursula Woodburn, Programme Director, Cambridge Institute for Sustainability Leadership
- Stefan Savonen, Senior Vice President for Energy and Climate, LKAB
- Sam Van den plas, Policy Director, Carbon Market Watch
Moderator: Anna Gumbau, EU Climate and Energy Correspondent, Carbon Pulse
10 Jun 2021
How can the EU Emissions Trading System drive the aviation sector’s decarbonisation?
7 Jun 2021
Europe’s industry polluters make €50 billion in carbon market windfall profits
7 Jun 2021
The Phantom Leakage – Industry windfall profits from Europe’s carbon market 2008-2019
27 May 2021