Time to agree on an EU Emissions Trading System (ETS) and a Carbon Border Adjustment Mechanism (CBAM) that work for the climate and support industrial transformation
As the EU ETS and CBAM trilogues are ongoing, Cem’in’EU signed a joint letter to underline that a strong reform of the EU ETS and a well-designed CBAM can truly help slash emissions from the industrial sector. To reach the 2030 EU climate target and achieve the massive emissions reductions in the industrial sector, the following elements must be included in the final CBAM and ETS legislation:
– Free ETS allowances are phased out as soon as possible
– Better and timebound targeting of free ETS allowances
CEM’in’EU invites decision makers to adopt an ambitious CBAM, as an effective tool to help the decarbonization of European industries. This is crucial if the European Union wants to be credible in its ambition to reduce greenhouse gas emissions by 55% in 2030.
The global climate challenge requires urgent action. Climate science is clear, we are heading in the wrong direction. It is now time for action and bold political decisions. This is the opportunity to link speeches with commitments.
The energy price crisis should not be used as an excused to postpone the measures that are fair and necessary to meet the European ambitions. Unlike what can be said, European industries will not face unfair competition under the CBAM ! It will send the right signal and incentives policies to reduce the carbon footprint of the production. We do it at the level of Cem’in’EU, and we are proud to announce the launch of the low carbon cement in 2023 !
If Europe is serious about the green transition, an ambitious CBAM and ETS is key