The European Wind Energy Association callsfor strong post-2020 reforms for the Emissions Trading System,according to association's press releaseWednesday.
The EU Emissions Trading System (EU ETS) is a cornerstone of the European Union's policy to combat climate change and is akey tool forcost-effectivelyreducing industrial greenhouse gas emissions, according to the European Commission.
The EU ETSis the world's first largest greenhouse gasemissions trading schemebased on the 1997 United Nation Kyoto Protocol which expired in 2012.
By2020, emissions from industriescovered by the EU ETS will be 21 percentlower than in 2005 and by 2030, the EC anticipates that they will be43 percent lower.
The announcement says that the ETSmust focus on modernizing Europe’s energy systems to foster a larger integration of renewable energy rather than upgrading antiquated fossil fuel plants.
The European Parliament on Wednesdayis expected to back a 2019 start to reform one of the world's largest emissions market to keep carbon prices high tocreate a low carbon economy.
"In addition to stimulating a higher price on
carbon,ETS reforms post-2020 must include tools that will drive fossil
fuel-dependent member states towards decarbonized and renewable energy
portfolios, the announcement read.
(Anadolu Agency)
