The Green Tank and the Energy Planning & Sustainable Development Group of the National Observatory of Athens (IERSD/NOA) co-organized an online panel discussion entitled “Quo Vadis ETS?” about the revision of the European Emissions Trading System (ETS) in the framework of the Fit for 55 legislative package.
The discussion was held as part of the LIFE ETX project to which The Green Tank participates as a partner on Monday 14 March 2022. The project aims at contributing to the development of an ETS that will benefit the climate and the citizens.
In the introductory remarks on behalf of the organizers, Ioli Christopoulou, Policy Director of The Green Tank, pointed out the significance of this debate not only due to the current situation with the war in Ukraine but also due to the negotiations for the ETS revision that are in full swing, with the final proposals of the European institutions expected in the coming months. She further noted that the purpose of the revision is the ETS’s adjustment to the new European climate targets as the ETS lies at the core of the EU’s energy and climate policy.
For her part, Elena Georgopoulou, Principal Researcher at IERSD/NOA and member of the Energy Planning & Sustainable Development Group, stressed the importance of the ETS for the EU’s binding target for a 55% reduction of greenhouse gas emissions by 2030 and zero emissions by 2050, compared to 1990. She also underlined the need for an immediate implementation of emission reductions so as to reserve the possibility to contain the global temperature rise to 1.5°C, given that this window of opportunity might close very soon. This is what the 6th Impact Assessment and Adaptation Report by the Intergovernmental Panel on Climate Change (IPCC), released two weeks ago, clearly indicated.
The introductory remarks followed presentations from invited speakers. Dimitris Lalas, External Associate of IERSD/NOA, FACE3TS, referred to the impact of the ETS on Europe and Greece from 2005 to date; Nikos Mantzaris, Senior Policy Analyst of The Green Tank, presented the proposals of the European Commission and the European Parliament on the ETS revision, providing critical comments and suggestions; Petros Varelidis, Secretary General for Natural Environment and Water, Ministry of Environment and Energy, outlined Greece’s positions in the negotiations on the ETS revision; Yannis Paniaras, the Greek Federation of Enterprises – SEV- representative and Member of the National Scientific Committee on Climate, analyzed the positions of the Greek business sector on the ETS revision and the climate targets.
In the second part of the discussion, event participants that included representatives of political parties, and the industry, energy and shipping sectors engaged in an exchange of views and recommendations on the future of European and Greek policy on ETS.
The LIFE ETX project aims at developing an ETS that benefits both the climate and the citizens. It is implemented by 10 partners, including The Green Tank, and is coordinated by Carbon Market Watch. It is funded by the European Union’s LIFE Programme under grant agreement no. LIFE20 GIC/BE/001662, and co-funded by the European Climate Foundation.