EU governments would be forced to invest more in decarbonising industry to give the bloc’s struggling industries more time to adjust to net zero targets, under a proposal drafted by the lead MEP on the reform of the EU’s Emissions Trading Scheme (ETS) on Friday (11 September).
German centre-right MEP, Peter Liese, told reporters that his proposal would require governments to spend 75 percent of the revenue they collect from ETS permit sales on decarbonising local industries covered by the emissions trading system.
The European Commission, in its draft published in July, had suggested a 50-percent threshold.
Liese said his proposal was targeted at assisting EU industries, some of which have complained about high CO2 costs hurting their competitiveness, and better support investments in domestic industry and energy production.
“If you have a screw and you pull it too hard it can break,” said Liese, adding that “many industries are suffering.”
