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IETA statement on protection of the European carbon market from a hard Brexit

18 Oct 2017 11:45 AM | Anonymous member (Administrator)

Contact Katie Kouchakji, kouchakji@ieta.org

Brussels, 18 October - Ahead of today’s second trilogue meeting on the review of the EU ETS rules on international aviation, where measures to safeguard the bloc’s carbon market from an impact of a hard Brexit are to be discussed, IETA is calling on EU policymakers to protect the EU ETS from any adverse impacts.

IETA’s statement urges both the European Parliament and the Council to agree on measures which would protect the EU ETS in the case of a hard Brexit, however:

  1. Taking into account all policy options with the respective benefits and costs related; impact on environmental integrity and market stability, sustained confidence in the market and existing transaction patterns.
  2. Ensuring that the adopted solution does not create uncertainty and can be implemented in a timely and orderly manner.
  3. Warranting that any measure agreed should be reversible in case of changed circumstances, especially if the UK decides to stay in the EU ETS and agrees to the terms and conditions of its continued participation (by the end of Phase 3 or beyond).

IETA’s preferred solution would be that the EU and the UK agree on a continued participation by UK companies in the EU’s carbon market until the end of 2020 at a minimum.



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