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The EU ETS structural reform for Phase 4: views on the European Commission proposal
The July 15, 2015 EC proposal for EU ETS structural reform is meant to provide the necessary changes to ensure that the EU ETS can fulfil the role of central pillar of the EU climate change policy.
This paper looks at the overall result of the EU ETS structural reform, which includes back loading, the Market Stability Reserve (MSR) and the current proposal, and asks the question: will the EU ETS, following the current package, be “fit for purpose” i.e. the main driver towards a low GHG economy?
Andrei Marcu was Deputy Director of CEPS Energy Climate House and Head of the CEPS Carbon Market Forum, and Milan Elkerbout is Researcher at CEPS.