The revision of the EU Emission Trading System (ETS) is a timely and critical undertaking. ZEP believes that the ETS should remain the principal tool for EU climate policy, providing a predictable, meaningful and robust carbon price and serving as a long-term driver for CCS. It should promote decarbonisation as well as effective funding of low carbon technologies – but due to the low price of allowances and issues with the structure of its funding mechanisms its impact on driving investment in CCS has been limited. ZEP therefore supports both amendments to the ETS structure and a new approach to the funding facilities as critical steps to roll out CCS. This paper was presented to EU Commissioner Cañete (Climate Action & Energy) and EU Commissioner Šefčovič (Vice-President Energy Union).
ZEP Position Paper on the ETS Revision (PDF – 339.97kb)