Brussels, 11 June 2020 | Europex, the Association of European Energy Exchanges, welcomes the opportunity to take part in the present consultation.
The European Green Deal must be a central pillar of the EU’s recovery efforts in the aftermath of the COVID-19 pandemic and in response to the looming climate and environmental crisis. Against the background of the intended 2030 Climate Target Plan and its subsequent legislative implementation, the opportunity should now be taken to put in place a coherent EU-wide policy framework to deliver the raised emissions reduction ambition at the least cost.
With this in mind, it is important to note that efficient, transparent and reliable energy and environmental markets provide the necessary price signals to reduce greenhouse gas emissions cost-effectively while fostering innovation and change along the energy system value chain.
In this context, we would like to highlight the importance of coordinated action to reduce greenhouse gas emissions across all sectors of human activity in Europe and worldwide. In order to reach the envisaged new 2030 EU climate targets, there needs to be a holistic and comprehensive policy framework at EU level that incentivises carbon abatement in a market- based and technology-neutral manner.
Building on these principles, we would like to emphasise five main aspects in response to the consultation:
1) The EU ETS must remain the EU’s primary instrument to reduce emissions
2) Energy and environmental markets are the cornerstones of decarbonisation at least cost 3) Market price signals drive energy system integration
4) Extension of the Guarantees of Origin scheme to reliably certify the origin of energy
5) A global role for the EU ETS
Please see the full response attached below for more details: