PDF urges EU ETS back-loading approval
London, 4 February (Argus) — The European Parliament's environment committee must support the European Commission's back-loading proposal for phase 3 (2013-20) of the EU emissions trading scheme (ETS) to demonstrate support of clean energy and low-carbon projects, UK-based Project Developer Forum (PDF) said.
“If you vote against the commission's proposal and the rapporteur's report, you will be signalling that a low-carbon infrastructure and millions of European green jobs are not important to you,” the group said in a letter to the environment committee.
A well-functioning EU ETS helps create an energy-efficient economy, which creates up to 2.8mn jobs in renewable energy, 2mn jobs in energy efficiency, and positions Europe to better compete in the global clean energy race, PDF noted.
The commission's proposal to back-load 900mn EU ETS allowances will also increase auction revenues for all EU member states by €107bn ($145bn) from 2013-20, PDF said.
Low prices in the ETS have negative ramifications in other regions, PDF added. The EU ETS “sets the benchmark” for other emitters, including China. A low carbon price in Europe results in less ambition elsewhere, the group said. China is planning its own national carbon trading scheme and will model it after its seven pilot schemes have been implemented.
The environment committee will vote on the back-loading proposal on 19 February.
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