Reform of the EU’s carbon market will be judged a success if it speeds up investment in European decarbonisation, Pascal Canfin, Renew coordinator in the environment committee ENVI, told Contexte.
That would need to be matched by stronger demand for products such as green steel and cement, he said, with flanking measures such as the Commission’s proposed Industrial Accelerator Act helping to create that demand.
Canfin said he was “not completely at ease” with the Commission’s 17 July proposal to use ETS allowances to buy international carbon credits and fund investment outside Europe.
But he said quality could be assured by looking at standards developed by big development banks such as Germany’s KfW.
French readers can see the full interview transcript here.
