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BRUSSELS, 13 October – EU negotiators need to finalise the reform to the EU ETS at the next trilogue meeting, as negotiations yesterday failed to reach a final deal.
While representatives from the European Parliament, the Council and the European Commission made progress in yesterday’s negotiations, the talks collapsed over a disagreement on coal safeguards proposed for the Modernisation Fund. This Fund is designed to support low-carbon transition in poorer EU Member States. The European Parliament called for a 450 g/kWh Emission Performance Standard for projects to receive modernisation funding. However, the EU Presidency opposed the Parliament’s demand. When the Parliament insisted on its position, the talks ended for the night with plans to resume soon.
“We urge negotiators to redouble their efforts to reach a deal at the next trilogue meeting, set to be held before this year’s round of UN climate negotiations in a few weeks,” says IETA’s CEO and President Dirk Forrister. “An agreement is needed to send a strong signal that the EU is serious about its leadership role in the international climate policy arena and in helping make the Paris Agreement a success.”
“Business has been calling for clarity and certainty on rules for a long time, especially as the launch of MSR is drawing ever nearer,” says Julia Michalak, IETA’s Director of EU Policy. “The reform process must finally bring predictability and boost confidence in the long-term future of the EU’s carbon market.”
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