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MEPs must veto proposal to release allowances from the Market Stability Reserve to finance REPowerEU

Carbon Market Watch and other green NGOs express their grave concern about the European Commission’s proposal to generate €20 billion from the auctioning of allowances held in the Market Stability Reserve (MSR) of the EU’s Emissions Trading System (ETS) in order to finance measures to help fund the REPowerEU plan, which includes gas and oil infrastructure. In this joint letter, the signatories from civil society urge MEPs to block this proposal because it would severely undermine the objectives of the European Green Deal and the EU’s obligations under the Paris Agreement.

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