The study shows that implementing ETS2 can be a significant opportunity to both tackle the widespread phenomenon of energy and transport vulnerability in Greece and reduce the carbon footprint of buildings and road transport. The key is to leverage funding sources beyond just the Social Climate Fund
With some countries only beginning public participation in June (and others not having started at all), NGOs are concerned that measures outlined in NSCPs will be insufficient to protect those most vulnerable to ETS2 prices. National governments must prioritise completing their plans as soon as possible, but not at the expense of meaningful stakeholder engagement.
“The ETS is finally functioning as a proper climate tool,” said Sam Van den plas, policy director at Carbon Market Watch. “Instead of introducing risky loopholes, we need to strengthen what’s already working.”
The EU’s Emissions Trading System is essential to meeting the European Union’s 2040 climate target. Watering the EU ETS down with international carbon credits or carbon removals will prove fatal, concludes a study commissioned by Carbon Market Watch.
The aim of the seminar was to provide information on the new Emission Trading System – ETS 2, which is expected to be implemented in 2027 and aims at decarbonising the buildings and road transportation sectors.
Signatories believe that to better prepare member states for the implementation of ETS2, early access must be granted to revenue before the system begins in 2027
