Dear Madam or Sir,
The rapporteur on the European emissions trading system EU ETS and spokesman for the largest group in the European Parliament (EPP, Christian Democrats) Dr Liese presenting an amendment from his group and the liberal Renew Europe group, Peter Liese said: “With our compromise amendment, we give industry and citizens more breathing space in difficult times and avoid a price shock in 2024. At the same time, we achieve even more greenhouse gas reductions than in the Commission proposal. “
However, with a four-vote majority against Liese’s recommendation, the committee approved a significant increase in ambition compared to the European Commission’s proposal. Instead of the Commission’s proposed 61% reduction in greenhouse gas reductions, the committee voted for 67%. In addition, a vote was taken to withdraw around 240 million certificates in 2024. The Renew group has now agreed to a compromise. The one-time reduction is now only to be 70 million in 2024 and a further 50 million emission rights are to be withdrawn from the market in 2026.
By assuming a higher linear reduction factor, according to Dr. Liese the target be changed to 63% by 2030, which is also important and the total emissions between 2024 and 2030 are therefore lower than the Commission proposal and ultimately more ambitious.
In addition, the EPP tabled the following amendments, among others, such as a joint amendment on carbon leakage protection for ports, an amendment on a bonus for sustainable alternative fuels in shipping, an exemption for ships carrying LNG and hydrogen, and one amendment to restrict market access to avoid manipulation and speculation.
In addition, the EPP wants to submit an amendment to all seven Fit-For-55 reports this week in plenary to call for a regulatory moratorium in view of the high energy and commodity prices and the war in Ukraine.
On a weekly basis, EU emissions allowances have risen by 5.5% and are heading back towards the EUR 90 mark, which has been breached several times in the past six months.
This was not least due to the fact that last week, due to the public holidays, a total of only five million EUAs were auctioned at the Leipzig EEX on just two days. Due to Whit Monday, a total of 9.2 million EUAs will only be offered on four days this week.
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