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Minister Hendricks: Reform of emissions trading creates a sound basis for planning and efficient climate action

Eight EU member states are committed to a rapid and comprehensive review of the emissions trading directive. Today the members of the so-called "Green Growth Group" published a joint letter to the EU.

Federal Environment Minister Barbara Hendricks: "The introduction of the market stability reserve was an important first step to an effective reform of the emissions trading scheme. Based on that, the emissions directive for the period until 2030 is now up for revision. We need a system that sets effective incentives for climate action, so that we achieve our climate goals as efficiently as possible. And we need early planning certainty, enabling companies to make the right investment decisions."

In their statement, the ministers emphasised that there must be an appropriate balance between ambitious climate action and the competition concerns of European industry. Therefore it is important from the perspective of the signatories to support specifically those sectors where there is a significant risk that companies will move their production to other countries and emit CO2 for free there. They stated that what was needed was a comprehensive reform that created planning certainty for companies and investors.

In October 2014, the EU heads of state and government had announced climate change targets for 2030 also with regard to emissions trading. These decisions now need to be implemented. It is expected that the Commission will present its reform draft shortly.

The signatories belong to the Green Growth Group, which is committed to an ambitious climate and energy policy in the EU. In addition to Minister Hendricks, ministers from Estonia, Great Britain, Italy, the Netherlands, Portugal, Slovenia and Spain are signatories, with Norway signing as an observer.

Further informationen

Statement of Green Growth Group

09.07.2015 | Pressreport No. 167/15 | Emissions Trading