Speech to Parliament - Debate ahead of the vote on the ETS
My speech to the European Parliament ahead of the vote on the ETS
On the 15th of February the European Parliament voted to endorse my report on the future of the European Emissions Trading System. You can watch the vidoe of my speech ahead of that vote above. The parliament's position calls for ambitious climate measures balanced with protections for Europe's industrial sectors.
By cancelling up to one billion EU allowances and doubling the withdrawal rate of the Market Stability Reserve we will make inroads to tackle the surplus in the market which has kept the price of polluting too low.
In return for this increased price, we will guarantee that the best perfoming factories and plants in Europe receive 100% of their allowances for free should they be at a high risk of carbon flight.
The next step in the legislative proposal is to negotiate parliament's position with the European Council. Follow my website for the latest on these negotiations once they begin later this year.