Following the publication of the European Parliament’s Committee on Industry, Transport and Energy (ITRE) Draft Opinion on ‘Cost effective emissions reductions and low carbon investments’, the Zero Emission Platform (ZEP) would like to draw MEPs attention to the following: ZEP warmly welcomed the proposals put forward by the Commission in its 2015 Summer Package to reform the EU Emissions Trading System. Summary of key points:
- ZEP is supportive of the European Commission’s proposals regarding the introduction of dedicated Innovation and Modernisation Funds.
- ZEP welcomes the Draft Opinion from the ITRE Committee and is particularly supportive of amendments 3, 5, 21, 22, 23 and 40.
- ETS Funds should be designed to support the development of so-called ‘part chain’ CCS projects alongside full-chain projects and innovative renewables. Allowing part chain projects would enable the funds to support deployment of CCS infrastructure necessary for energy intensive industries to achieve cost-effective decarbonisation.
- ZEP strongly encourages MEPs to seek alternatives to amendment 20, which could act as a disincentive to investment in innovative low-carbon investments.