IETA welcomes ENVI Committee vote on backloading - Important first step in ETS reform, 19 February, 2013

International Emissions Trading Association (IETA) Press Release
For Immediate Release                        
Brussels, Belgium -- IETA welcomes the outcome of today’s vote in the European Parliament’s Environment Committee, which adopted an amended proposal to allow the European Commission to change the timing of auction of allowances once during Phase 3 of the EU ETS.

“The Environment Committee’s vote in favour of backloading today provided a strong political signal for improving the EU ETS. It is now important for the negotiations between the co-legislators to move forward rapidly, to avoid further delays and uncertainty for market operators”, stated IETA’s President & CEO, Dirk Forrister. 

“Today’s vote was a critical first step.  It is now essential to gain clarity on the Rapporteur’s mandate to start negotiating with the European Council. Negotiations on a first-reading agreement between the co-legislators are necessary for policy makers and stakeholders to focus on structural measures to reform the Emissions Trading Scheme to secure its role as one of the most successful climate policies in the world.”

IETA believes that the ENVI Committee vote on backloading is a strong political signal, but that it should be considered as part of a more comprehensive process of addressing challenges in the current ETS system. Backloading is only a first-step, which should be paired with structural measures in order to maintain the ETS as the centrepiece of the EU’s climate policy.

IETA would like to see the discussion move forward rapidly. We urge MEPs in the Environment Committee, to rapidly endorse the start of negotiations with Member States. It is also important for undecided Member States to take a position in order to allow trilogue negotiations to begin. It is of paramount importance that the debate moves on to focus on broader considerations regarding which structural measures are necessary that would avoid such interventions and changes to the rules in the future.

Contact: Sarah Deblock – IETA EU Policy Director  +32 491 744 274

IETA has been the leading voice of the business community on the subject of carbon markets since 2000. IETA's 155 member companies include some of the world's leading corporations, including global leaders in oil, electricity, cement, aluminum, chemical, paper, and other industrial sectors; as well as leading firms in the data verification and certification, brokering and trading, legal, finance, and consulting industries.

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