IIGCC Statement on EU climate change and energy priorities for 2015
This statement from the Institutional Investors Group on Climate Change (IIGCC) sets out our policy priorities for the EU on climate change and energy policy, following the political agreement at the European Council on 23/24 October on a framework for 2030. IIGCC asks policymakers to consider the following in the next period:
1. Examine how the 2030 framework would best support President Juncker’s proposed €300 billion public-private investment programme.
2. Ensure that the EU ETS is not only an instrument to reduce emissions but is also able to support a strong carbon price, given its role as the cornerstone of European decarbonisation.
3. Bring forward the introduction of the Market Stability Reserve to 2017 to strengthen the carbon price earlier and provide greater certainty to investors.
4. Place the backloaded allowances straight into the reserve rather than returning them to the market.
5. Set out the regulatory framework and policy support mechanisms which will deliver investment necessary to achieve the 27% energy efficiency target.
6. Detail how the current 10% interconnection target and the 15% target by 2030 will be met within the context of infrastructure investment and integration of the European energy market.