Joint letter – ICC reform and expansion risks diverting ETS Revenues from real climate action
ICC reform and expansion risks diverting ETS Revenues from real climate action In light of the European Commission’s ongoing considerat...
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Publish date: July 8, 2022
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The proposed hydrogen and gas markets decarbonisation package includes a regulation and a directive, hoping to steer the EU towards a transition from an energy landscape largely dominated by fossil gas to a largely electricity-based system with some renewable and low carbon gases. We noted and highlighted significant shortcomings in the package and its failure to free Europe from fossil lock-in. Consequently, we suggested a number of recommendations. In light of the upcoming deadline for amendments on 13 July, on both the directive and regulation, reports tabled by MEPs Buzek and Geier have positive developments in line with Bellona’s asks.
MEP Geier’s report suggests two key amendments that would be of great climate benefit as we explain in our brief :
MEP Buzek’s report suggests a reduction in the percentage of Hydrogen that can be blended with natural gas, down from 5% to 2% through the proposed Amendment 32. Although no blending is ideal, as we highlighted in our brief, we still believe this is a step in the right direction.
Strong support and adoption of these amendments is crucial in aligning the EU with its climate targets. Besides the climate benefits, these amendments would help shield consumers from rising energy prices as well as reduce EU dependency on Russian fossil fuels.
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