RELATORE: Prof. Juan Fernando López Hernández - European Roundtable on Climate Change and Sustainable Transition

Abstract:
The EU ETS is the cornerstone of the EU Climate Policy. By 2023, it covers around 45% of overall GHGs emissions and around 80% are expected to be covered after 2028. Today, it includes more than 11.000 installations and aircraft operators, and it is considered the most consolidated carbon market worldwide in terms of GHGs coverage. It is thanks to the EU ETS that the EU is “leading by example” its climate policy, so other countries can follow. Since its creation in 2005, the EU ETS has experienced different phases or periods with different structural conditions. The current Phase, that started in 2021 was revised in 2023 with the adoption of a modified EU ETS Directive (main legislative body) and new rules will apply as from 2024. In parallel, there is a debate about the EU ETS Post 2030 that will determine its success or failure under a pressuring decarbonisation goal for EU industry, and a wider international climate context.