18 June 2025. 2.30-4.00pm. Online.

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In early July the European Commission will release its proposal to set a 2040 climate target by amending the European Climate Law. Since the initial proposal of a 90% net emissions reduction by 2040 was proposed on 6 February 2024, the European Commission has begun to consider introducing flexibilities such as the inclusion of credits under Article 6 of the Paris Agreement, in place of necessary domestic emission reduction actions, in opposition to the the scientific recommendations of the ESABCC. 

With the creation of ETS2, which will apply carbon pricing on buildings and road transport from 2027, 75% of the EU’s emissions will be covered by the union’s carbon market, making the EU ETS key to achieving the EU’s 2040 climate target. 

As policymakers and stakeholders prepare for the 2026 review of the ETS, the report ‘The EU ETS and the 2040 Climate Target’ by Oeko Institute provides valuable insight into: 

• How to manage the ‘ETS homestretch’, and concerns over the lack of liquidity in the market as we approach 2040, while ensuring the EU’s climate targets are met
• Potential changes to the market stability reserve to deliver a carbon price that achieves decarbonisation and provides stability for investment
• Considerations around the role of carbon removals in the EU ETS and the potential inclusion of Article 6 credits within the climate target to ensure meaningful emissions reductions 

AGENDA

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Introduction

– Eleanor Scott, policy expert on EU carbon markets (Carbon Market Watch)

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Keynote speech on the political scene

– Michael Bloss, MEP (Greens/EFA, DE)

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Presentation of the report “The EU ETS and the 2040 climate target”

– Jakob Graichen, senior researcher climate and energy (Oeko-Institut)

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Report Q&A

– Moderated by Eleanor Scott

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Panel Discussion

– Beatriz Jordi, director DG CLIMA (European Commission)

– Sam Van den plas, policy director (Carbon Market Watch)

– Ola Hansén, public affairs director (Stegra Steel)

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Closing remarks

-Islene Façanha (ZERO)

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