BBVA Carbon Talks #10: Beyond the Headlines: Decoding the EU ETS Reform Proposal

On 17 July, the European Commission is expected to publish its proposal to reform the EU Emissions Trading System (EU ETS), giving the market the first indication of the direction of travel for European carbon policy. Just a few months ago, market participants were pricing in the risk of a much more fundamental overhaul after calls to "pause”; the EU ETS sent carbon prices sharply lower. Since then, the debate has shifted. Rather than rewriting the system, we expect the EU Commission to bring forward a recalibration or an evolution, with the focus on managing carbon costs through free allocation and the Investment Booster rather than intervening directly in the carbon market.

In our webinar, we will discuss with our panelists:

• What are the key elements of the proposal?


• What is the political roadmap from proposal to implementation?


• What does the reform mean for the carbon market and the outlook for EUAs?

Panelists:

• Jos Delbeke, EIB Chair on Climate Policy and International Carbon Markets, previously Director-General of the European Commission’s DG for Climate Action


• Daniele Agostini, Head of Energy and Climate Policies at Enel


• Trevor Sikorski, Head of Natural Gas and Emissions at Energy Aspects


• Moderator: Ingo Ramming, Head of Carbon Markets, BBVA

For more information, please contact your BBVA representative or email marketingbbvacib@bbva.com