EU to overhaul Emissions Trading System with industry-backed reforms this week
Essen. Evonik CEO Christian Kullmann reverses course on EU emissions trading.
In late November, he called on the European Commission to abolish or radically reform the Emissions Trading System (ETS). Now, in a joint op-ed for Handelsblatt (Wednesday edition) with EU lawmaker Peter Liese (CDU), he argues that the debate over the ETS must no longer be driven by ideology. "Some want to scrap it or overhaul it completely. We say we need to act pragmatically now and reach smart compromises."
On Wednesday, the European Commission will present its initial reform proposals. According to Handelsblatt (Wednesday edition), citing Commission sources, Brussels will accommodate the chemical industry as much as possible in adjusting benchmarks. Additionally, the EU will permanently eliminate the cancellation of certificates in the Market Stability Reserve (MSR).
