A carbon market that works for the climate and industry

June 3, 2022

A coalition of NGOs sends an open letter to the European Parliament, calling for them to vote for an EU Emissions Trading System (ETS) that works for climate and industrial transformation

Ahead of the European Parliament vote on the EU carbon market, the EU ETS, a coalition of NGOs are calling on MEPs to vote for an ambitious revision to make the EU’s carbon market an effective tool driving industrial transformation to contribute to achieving the EU 2030 climate target and European Green Deal objectives.

In the ETS reform proposal by the European Commission, free allocation will still remain one of the main obstacles to decarbonisation, innovation and the good functioning of carbon markets . The current regime of free allowances represents a massive market failure that creates an unjust and complex set of distortions for companies in and outside the ETS. This must come to an end.

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