Investment Security for Ambitious EU Climate Targets: Repairing the Emissions Trading Scheme

Meldung

Investment Security for Ambitious EU Climate Targets: Repairing the Emissions Trading Scheme

Declaration by Alstom Deutschland AG, Deutsche Shell Holding GmbH, EnBW AG, E.ON SE, Otto GmbH & Co KG, Puma SE in cooperation with Germanwatch e.V.

Bild Logos Unternehmensdeklaration

For a promising political and economic strategy that supports the implementation of the European Union climate targets - a reduction of greenhouse gas emissions by 80 to 95 percent by 2050, compared to 1990 levels - investment security is highly important. Many of the necessary investments for such a transformation are tied up for decades and are in need of a reliable political framework. The EU Emissions Trading Scheme (ETS), a central component of such a framework, does not currently create the necessary investment security. At present, the ETS hardly creates investment incentives.

Without a substantial reform, the functionality of the ETS will be severely limited, at least until 2020. The position of the German Federal Government is important for the upcoming EU decisions. Hence, the time has come for the Federal Government to safeguard the security of climate-protection investments, both those that have already been made and those that must be made by companies in the future.

Currently, the first and absolutely necessary correction step to safeguard investment security is the one-time removal of surplus emissions allowances from the market. Such a one-time intervention has to remain an exception. Specifically, we demand that the Federal Government supports the European Commission's proposal from July 25, 2012 on changing the timeframe for the auctioning of emissions certificates. On this basis, the yearly reduction factor must subsequently be changed in a way that the ETS contributes its fair share to a more ambitious EU emissions target, while at the same time safeguarding the competitiveness of globally active industries. The emissions allowances are to be removed permanently from the market. These are the first steps on a cost-efficient and credible pathway that is in line with the 2050 emissions target of the European Union.

We urge the Federal Government and the European Parliament to jointly advance climate mitigation and investment security along these lines.

Alstom Deutschland AG
Deutsche Shell Holding GmbH
EnBW AG
E.ON SE
Otto Group (Otto GmbH & Co KG)
Puma SE

in cooperation with Germanwatch e.V.

(unofficial, unauthorized translation - original document in German)

7. February 2013