PM+: EU policymakers must send 'clear signal' on energy policy
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- Category: Blog
- Created on Tuesday, 19 May 2015 15:12
Recent EU announcements on energy are welcome but as always, argues Sandrine Dixson-Declève, the 'devil is in the detail'.
There’s a series of highly technical decisions taking place in Brussels that will determine the future investment of billions of Euros across Europe.
Last week [of February] saw the launch of the new energy union framework strategy, the EU’s vision for an international climate agreement, and a vote on reforming carbon trading.
There’s no coincidence that these should come together. Europe can’t achieve its commitment of at least a 40 per cent cut in greenhouse gas emissions without appropriate means - namely robust energy policy and an effective carbon market.
It’s easy to drown in the acronyms, but the ins-and-outs of an MSR (market stability reserve) lowering UEAs (carbon allowances) in the EU-ETS (European Union emissions trading scheme) are not going to be discussed in many board meetings. Business simply needs a clear signal that low-carbon is the direction of travel. And it’s looking to policymakers to deliver.