Ahead of the third rounds of trilogues on the EU Emissions Trading System (ETS) reform and the Carbon Border Adjustment Mechanism (CBAM), we published an open letter from our CEO sent to representatives of the EU Institutions.
The open letter builds upon our letters sent earlier this year to Member State Leaders and Ministers and Commission Executive Vice President Timmermans on the wider Fit for 55 package.
We emphasised that investors support a fair, transparent and effective regime for carbon pricing in Europe, underpinned by an EU ETS and CBAM that maintain high climate ambition and market integrity.
Now is the time to incentivise investment in industrial green innovation through robust carbon pricing. Doing so will send powerful market signals to help accelerate investment in decarbonisation in support of the wider Fit for 55 package and its overarching emissions reduction target, as well as the EU’s energy security objectives.
The letter contains several specific points that IIGCC wishes to see reflected in the final agreements on the EU ETS reform and CBAM in order to achieve this.
Disclaimer: This letter was developed in collaboration with a number of IIGCC members but does not necessarily represent the views of the entire membership, either individually or collectively.