Open letter to EU environment ministers on ETS funds
Dear Environment Minister,
Ahead of the upcoming trilogue meeting on the revision of EU’s Emission Trading System (ETS), the undersigned, representing 30 networks and organizations representing citizens from across Europe, would like to urge you to ensure that the funding mechanisms dedicated to help lower-income Member States transform their energy systems (article 10c and the Modernization Fund) are robust and well-designed to truly support the development of renewable energy and energy savings instead of subsidizing coal plants.
If the EU wants its policies to be consistent with the long-term objectives of the Paris Agreement, it needs an ambitious ETS with a strong price signal. In addition, it cannot continue to subsidize coal power plants. We therefore call on you to support proposals that:
1. Exclude investments in coal power under Article 10c particularly through supporting a 450gCO2/kWh investment eligibility criterion.
2. Exclude investments in coal power and secure strong governance of the Modernisation Fund with a balanced role for all Member States (both beneficiary and non-beneficiary) as well as the European Investment Bank (EIB) in setting out investment guidelines for projects.
3. Support establishing a Just Transition Fund
14 Jul 2021
European carbon market does not move with the climate urgency of our times
30 Jun 2021
Two Shades of Green: How hot air forest credits are being used to avoid carbon taxes in Colombia
30 Jun 2021