Some countries of European Union intend to ask the President of the Commission, Ursula von der Leyento delay the opening of the new and controversial emissions trading system (ETS2)which aims to reduce emissions from buildings and road transport.
OR Cyprus and a group in particular Central and Eastern European countries of the EU intend to request three-year deferment to start ETS2 by moving it to 2030according to a draft letter seen by Bloomberg News. The leaders of the EU countries are expected to meet on Brussels next week to discuss the Union’s climate goals.
“We feel the need to express our deep concern about the current design and implementation schedule of the program,” says the draft, which may be amended. “The start of ETS2 in 2027 risks causing unwanted social, economic and political upheavals, particularly in the Member States most exposed to energy poverty and have limited alternative options in public transport».
This letter constitutes the newer effort to delay or reduce the cost of the new emissions trading scheme, at a time when economic and political obstacles threaten to derail progress towards achieving the goals emissions reduction for 2040 and 2050. The European Commission so far has not submitted its updated climate commitment at the United Nations, while there are only a few weeks left before the COP30 conference in Brazil.
In June, 19 member states they had asked the EU to adopt stronger price control mechanisms on the new cap-and-trade system, expressing fears that it would increase costs heating and transport for consumers.
According to her estimates BloombergNEFthe price for emitting a ton of carbon dioxide in the new system can reach 149 euros in 2029 — that is, over 80% higher from the current emissions price applicable to industries and power plants.
Next week, EU leaders will discuss the Commission’s proposal for reducing greenhouse gas emissions by 90% by 2040;relative to 1990 levels, as well as the conditions for achieving this objective. Member States are expected to raise the issue of ETS2 in the debate, along with ban on internal combustion engines and the need for stronger industry protection.
The draft of the letter not mentioned at Social Climate Fundwhich is planned to be funded by ETS2 revenues and to start operating next year.
The EU is already implementing cost of COâ‚‚ emissions for them industrial producers, airlines and shipping.
Source :Skai
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