Adjusted 2030 targets may revive the ETS and put EU emissions back on the 2°C track
In order to get the EU emissions back on track for the 2°C goal, and to allow for a fully effective EU ETS, it is vital for the EU 2030 targets to tackle the large surplus of emissions allowances accumulating in the system. A new report prepared by Ecofys and commissioned by Greenpeace finds that the EU 2030 targets can be set in a way to also accommodate the surplus expected until 2020.
Given the currently expected surplus, the 2030 target or the trajectory towards it would need to be significantly more stringent than otherwise. If the entire surplus of allowances from the ETS were to be used after 2020, the 2030 target has to become around 7 percentage points more stringent to compensate for that.
Please find additional information in the Greenpeace press release.