Audio statement by Connie Hedegaard on Emissions Trading

Type: Interview   Reference: I-074116   Duration: 10:03:13  Lieu:
End production: 25/07/2012   First transmission: 25/07/2012
On 25 July 2012, Connie Hedegaard, Member of the EC in charge of Climate Action, gave an audio statement on Emissions Trading, in Brussels. On that date, the European Commission proposed a decision to clarify the provisions of the EU Emissions Trading System (ETS) Directive on the timing of auctions of emission allowances. The European Commission had initiated in mid-April the review of the auction time profile of the EU ETS.

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TIME DESCRIPTION DURATION
10:00:00 Audio statement on Emissions Trading Scheme (ETS) by Connie Hedegaard, Member of the EC in charge of Climate Action 00:00:05
10:00:05 Title of the question "What are you proposing today?" 00:00:00
10:00:05 Soundbite by Connie Hedegaard (in ENGLISH): Well, only some weeks ago, some thought that this issue could wait. I didn't believe that and today we take the first steps: we paved the way for changing the auctioning profile, we proposed a legal way of doing this and we sent the material today to the Climate Change Committee including Staff Working Document. This means that the process has started and it also means that, if the political will is there in the EP and in the Member States, before the end of this year, we will also have the decision that we need to have. 00:00:42
10:00:47 Soundbite by Connie Hedegaard (in ENGLISH): The European Commission is proposing this today because we think it is absolutely necessary that now the Member States, the European Parliament and the stakeholders start to consider this very seriously and that is why together with this very specific proposal today we have also sent to the Climate Change Committee where Representatives from all the Member States are, a Staff Working Document with a lot of details on exactly how this can be done. The European Commission can pave the way. We can say that this is what we think could be done and these are the consequences but then in the end of course it is very much up to the European Parliament and the Member States to give a goal for this. 00:00:00
10:00:47 Title of the question "Why are you proposing this?" 00:00:48
10:01:35 Soundbite by Connie Hedegaard (in ENGLISH): The tangible benefits will be that we do not continue to flood a market where there already is an oversupply of allowances. That is of course not very wise. If you already have more than enough of a thing on the market, then you should not continue to flood the market with more of that same thing and that is in the essence what this is all about. 00:00:00
10:01:35 Title of the question "What are the tangible benefits of such a proposal?" 00:00:53
10:02:29 Title of the question "When do you expect that this change can be adopted?" 00:00:00
10:02:29 Soundbite by Connie Hedegaard (in ENGLISH): I think that the Commission has now delivered what we should deliver at this stage. Now it is very much up to Member States and the European Parliament to take the discussion and if the political will is there, then I am absolutely confident that before we start the next auctioning period, before the end of this year, then we will be able to take a decision as I mentioned at the Informal Environment Ministers Council in April, the Commission would come up with the initiative that would make political decision possible before the end of this year. That is what we are doing. 00:00:44
10:03:13 Title of the question "Will this be it or will you come out with other proposals to market?" 00:00:00
10:03:13 Soundbite by Connie Hedegaard (in ENGLISH): What we are doing here is to address the short term challenges and that is the auctioning profile. Then, as already mentioned in spring, there is a more structural discussion about the ETS that we will look further into after summer. There we will present the more structural options. We have an ETS system it is working but it could work even better with the experience that we have now and that requires a more structural discussion and that will come for the fall. 00:00:38
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