15 Jul 2015
REVISED EMISSIONS TRADING SYSTEM – 15 JULYBrussels Daily
Revised emissions trading system will help EU deliver on climate goals
This is the first legislative step in delivering on the EU’s target to reduce greenhouse gas emissions by at least 40% domestically by 2030 as part of its contribution to the new global climate deal due to be adopted in Paris this December.
EU Commissioner for Climate Action and Energy Miguel Arias Cañete said: “Actions speak louder than words. Today we take a decisive step towards enshrining the EU’s target of at least 40% emissions cut by 2030 into law. My message to our global partners ahead of the Paris climate conference: the EU stands by its international commitments. And my message to investors, businesses and industry: invest in clean energy; it’s here to stay and continue to grow. With these proposals, Europe is once again showing the way and leading the global transition to a low-carbon society.”
To achieve the 40% EU target, the sectors covered by the EU ETS will be reducing their greenhouse gas emissions by 43% compared to 2005.
To this end, the Commission proposes
- Increasing the pace of emissions cuts after 2020
- More targeted carbon leakage rules to safeguard the international competitiveness of the sectors most at risk of relocating their production outside the EU
- Several support mechanisms to help industry and power sectors meet the innovation and investment challenges of the low-carbon transition.
The proposal will guarantee that the EU ETS, Europe’s flagship tool to fight climate change, will contribute to deliver steady emission reductions in the decade to come. Cutting emissions also benefits citizens’ health through reduced air pollution and makes Europe less dependent on imported fossil fuels.