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Chemical industry seeks carbon market reforms

Chemical industry seeks carbon market reforms


 

The European chemical industry has called for a reformed EU Emissions Trading Scheme (ETS) that allows allocation of free carbon allowances based on recent industry production and improved emissions performance. In a statement on Wednesday 8 June, the European Chemical Industry Council (Cefic) described the current allocation system as “dysfunctional” and suggested that instead using data from recent industrial activity to set benchmarks “would bring back a much needed dose of reality”. Director general, Marco Mensink, said: “Proposed ETS reforms to divide industries in groups or tiers protect certain industries at the expense of others. This is not only unfortunate but undesirable, since it’s based on old industrial production data. Before taking such a decision, updated and recent data should be applied at the very least.”

 

Cefic