The European Commission today launches a public consultation on revision of the EU Emission Trading System (EU ETS) Directive for the period after 2020.
The consultation aims to collect opinions from stakeholders on different options for a revision of the EU ETS Directive in the light of the strategic guidance given by EU leaders in October 2014 on the 2030 framework for climate and energy.
Consistent with this guidance, the consultation focuses on several issues regarding the implementation of the emission reduction target of at least 40% in 2030 as compared to 1990, namely free allocation to industry, the establishment of a modernisation and an innovation fund, and optional free allocation of allowances to modernise electricity generation in some Member States.
The consultation launched today complements several consultations that have already been conducted recently on aspects relating to the legislative framework for the EU ETS for the period after 2020, including a consultation on post-2020 carbon leakage provisions. The results of these consultations are available on the Commission's website (see link below).
Based on a questionnaire, the online consultation will run until 15 March 2015. Earlier replies are encouraged.
On 24 October 2014, the European Council agreed on the 2030 framework for climate and energy, including a binding domestic target for reducing greenhouse gas (GHG) emissions of at least 40% in 2030 as compared to 1990. To meet this target, the European Council agreed that the emissions in the EU Emission Trading System should be reduced, compared to 2005, by 43%. A reformed EU ETS remains the main instrument to achieve the emission reduction target.
The Commission Work Programme 2015 presented on 16 December 2014 foresees that the Commission will begin in 2015 to table the legislative proposals to implement the 2030 climate and energy package. Commissioner Arias Cañete has already stated his intention to table a legislative proposal for the revision of the EU ETS swiftly after the European Parliament and Council have agreed on the final shape of the proposed market stability reserve.