Eight EU countries against the Ets stop proposed by Italia

Eight EU countries reject Italia's request to suspend the European CO2 emissions trading market. The ETS - reads a non-paper signed by Denmark, the Netherlands, Sweden, Finland, Spain, Portugal, Slovenia and Luxembourg - "is the cornerstone of the EU's climate policy" and "making fundamental changes, questioning the instrument itself or suspending it would be a very worrying step backwards, not only in terms of climate ambition, but also because it would weaken the carbon price signals that underpin investment and market stability".

The ETS, the eight governments point out in the document prepared for the EU summit on 19 and 20 March, "is essential to provide the necessary signals to strengthen European industry and drive decarbonisation and reindustrialisation based on domestic, clean and affordable energy sources, while guaranteeing economic security". According to the signatory countries, "European industry and energy markets need a stable regulatory framework" capable of guiding investments: in this context, "the stability of the ETS, as a carbon pricing tool, is key to attracting capital and offering long-term visibility to industrial sectors".

The European Emissions Trading Scheme, the non-paper goes on to say, has proven to be "an efficient and economically sustainable tool" that "has evolved over time" and allows companies flexibility in meeting climate targets, "reducing the costs of transition for businesses, consumers and governments". Changing it profoundly or freezing it "would distort the playing field and penalise those who have already invested in decarbonisation and slow down new investments", the signatories warn, leaving room to "consider" only "possible targeted adjustments that help preserve its stability in times of volatility without compromising its objectives".

The revision of the ETS already on the agenda, the eight countries emphasise, 'should support decarbonisation, investment and employment in Europe, while minimising the risk of carbon leakage'.