The recent drop in prices on the EU’s Emissions Trading System (EU ETS) threatens to slow industrial decarbonisation and to deprive state treasures of urgently needed funds for climate action.
We write to MEPs to express our grave concern about the European Commission’s proposal to generate EUR 20 billion from the auctioning of allowances held in the Market Stability Reserve (MSR) of the EU Emissions Trading System (ETS) in order to finance measures under the REPowerEU plan, including gas and oil infrastructure. Together with our …
This policy paper complements the briefing “A New Hope – recommendations for the EU Emissions Trading System review” Introduction: The EU Emissions Trading System (EU ETS) has been hampered by a historical oversupply since its inception. Since 2019, some of the excess allowances are being absorbed by the Market Stability Reserve (MSR), and a portion …
Read more “How can the EU Emissions Trading System support a union-wide coal phase-out”
BRUSSELS 20 September 2019. The EU carbon market is currently unfit to accommodate national coal phase-outs scheduled in Europe. EU policymakers should combine coal plant closures with the cancellation of pollution permits and strengthen the market stability reserve to absorb more surplus pollution permits off the market. Failing this, the market will be flooded with …
Executive summary 12 European countries have committed to closing down coal-fired power plants over the coming years. In order to do their part in limiting the global temperature rise to 1.5°C above pre-industrial levels, all EU countries will have to follow on this path and phase out coal by 20301. While this is an urgent …
Read more “Avoiding A Carbon Crash: how to phase out coal and strengthen the EU ETS”
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