BUSINESSEUROPE welcomes today’s vote of the European Parliament rejecting the Commission’s backloading proposal for the EU Emission Trading Scheme. It should now be withdrawn.
“The European Parliament expressed its support for a market-based instrument and rejected political interference. It is time to move past the divisive and unhelpful debate around backloading and focus on the real priorities for the EU: how to secure a cost-competitive, secure and climate-friendly energy policy for 2030. The increasing energy cost gap with the US is a major challenge for European business which must be tackled” - said Markus J. Beyrer, Director General of BUSINESSEUROPE.
The ETS is functioning as envisaged: sectors covered by the system are on track to reduce emissions until 2020 by 21% compared to 2005. Since the current CO2 price is mainly due to the economic crisis, re-launching the economy will boost industrial output and increase the demand for ETS allowances without the need to change the legislative framework.