EU institutions, stakeholders and experts agree that the EU’s carbon market should serve as the centrepiece of Europe’s decarbonisation efforts. To reach enhanced climate ambition for 2030, the EU needs a well-functioning carbon market fostering cost-efficient emission reductions. However, this role has just been cast into doubt. This article, written by IETA CEO Dirk Forrister, explains why restricting access to the EU ETS would have negative impacts on the market.