Brussels, Oct. 16 (LaPresse) – The European Council calls on “the Commission to update its assessment of all the impacts of the ETS2 system, with particular reference to its structure and the related safeguards”. This is stated in the conclusions on competitiveness adopted at the EU summit. The leaders call on “the co-legislators to accelerate the ongoing legislative process concerning the Market Stability Reserve, in order to moderate excessive price volatility”. In the context of the current review of the ETS system and with a view to supporting the competitiveness of European industry, the European Council reiterates “the need to urgently ensure a well-functioning, transparent and predictable carbon market; to effectively protect the economy against the risk of carbon leakage; to reduce carbon price volatility and mitigate its impact on electricity prices. All this while preserving the essential role of the ETS in the climate and energy transition, through a market-based carbon emissions price signal capable of stimulating investment and innovation”.
EU, leaders’ summit: “Update assessment of ETS2 impacts”
Brussels, Oct. 16 (LaPresse) – The European Council calls on “the Commission to update its assessment of all the impacts of the ETS2 system, with particular reference to its structure and the related safeguards”. This is stated in the conclusions on competitiveness adopted at the EU summit. The leaders call on “the co-legislators to accelerate the ongoing legislative process concerning the Market Stability Reserve, in order to moderate excessive price volatility”. In the context of the current review of the ETS system and with a view to supporting the competitiveness of European industry, the European Council reiterates “the need to urgently ensure a well-functioning, transparent and predictable carbon market; to effectively protect the economy against the risk of carbon leakage; to reduce carbon price volatility and mitigate its impact on electricity prices. All this while preserving the essential role of the ETS in the climate and energy transition, through a market-based carbon emissions price signal capable of stimulating investment and innovation”.