This morning MEPs in the Industry, Research and Energy Committee gave the Commission a clear mandate to intervene in the EU ETS to correct for the impacts of the Energy Efficiency Directive and to preserve the incentives for low carbon investment.
Sandbag welcomes this development, and hopes to see political support for recalibrating the ETS grow within the parliament and council in the coming months.
Damien Morris, Senior Policy Advisor at Sandbag said, “The EU emissions trading scheme could be a powerful tool for both energy efficiency and low carbon growth in Europe but at present it is dying under the weight of too many emissions permits. Politicians control this market and they can and must fix it by taking away at least 1.4bn permits. Today’s vote is a significant step in that direction.”