This Side Event is organised within the framework of the EUI State of the Union, as part of the policy dialogue carried out under the LIFE SIDE project.The project supports European policy makers with the design and implementation of the new EU ETS legislation.
Attendance to this Side Event is free. Please register here.
Since 2005, the EU Emissions Trading System (EU ETS) has been the cornerstone of EU’s climate policy and remains today the largest cap-and-trade scheme in the world. The EU ETS has also been seen as a prototype of an architecture for a global climate regime, though arguably this view should be adjusted to the new context of the Paris Agreement.
The reform of the EU ETS for Phase IV (2021-2030) has recently been agreed and it has now reached the final stage of the legislative process. The reform process is complex, if anything because the governments of 31 participating countries need to find agreement on multiple issues, including the rules for allocating emission allowances. As distributional effects are inherent to allocation decisions, both equity and solidarity considerations permeate this process and are eventually translated into specific previsions. The EU ETS can thus provide concrete examples of resolution to distributional issues that may arise in similar schemes overseas or, more widely, in the making of international climate governance.
Jos Delbeke, Senior Adviser for Relations with the European University Institute, European Political Strategy Centre, European Commission (former Director-General for Climate Action, European Commission)
Carlo Carraro, Professor (University of Venice) and Director of the International Centre for Climate Governance
Zhang Xiliang, Professor of Management Science and Engineering and Director, Institute for Energy, Environment & Economy, Tsinghua University