EU Consultations – review of EU ETS and Effort Sharing Regulation based on increased 2030 climate ambition

1 member

Summary

The European Commission has opened consultations on: how to translate the increased EU 2030 emission reduction ambition into an upgraded, more ambitious EU ETS (which covers 41% of EU emissions); and legislative action to revise the Effort Sharing Regulation (which covers 59% of EU emissions).

Business case

PRI has published a roadmap of policies which are necessary to deliver a net zero EU economy by 2050 – "Delivering net zero emissions in the EU". The policy recommendations address the overall climate ambition and key sectors for decarbonisation: power, road transport, buildings, and industry. Together, these recommendations describe essential near-term actions to deliver on the EU climate goals of at least a 55% reduction in emissions by 2030 and reaching net zero by 2050 in a way that is economically, politically and technologically achievable and ultimately beneficial. 

It is vital that the EU implement reforms to the EU ETS as part a comprehensive carbon pricing strategy aligned with the delivery of the 2050 target and increased 2030 ambition, and that this is accompanied by coherent reforms to related legislation, including the Effort Sharing Regulation, to set policy framework to deliver emissions cuts and support investment in the transition to net zero across the European economy. 

Further information is available here (ETS) and here (Effort Sharing Regulation). The deadline for responses is February 5th 2021. 

Collaboration details

Type
Consultation
Status
Ongoing
ESG theme
  • Environment
  • Public Policy
Created on
Geography
Global
Attachments