Cracking the dilemma of international carbon credits in the EU 2040 target: can EU’s climate action turn geopolitical without losing domestic integrity?
September 17 @ 11:30 - 14:00
| With COP30 just around the corner, and as the EU is debating its 2035 NDC and 2040 targets, EU faces a key strategic dilemma of whether international carbon credits should be included in its 2040 emissions reduction target and if so, under which quantitative and qualitative conditions, governance instruments and at which risks regarding its domestic EU ETS? Some fear that including international carbon credits will undermine EU’s climate leadership and the stability and credibility of the EU ETS and ultimately reduce the incentives for high quality carbon removals in the EU, others accuse the EU of reneging on its obligation to reduce domestically its carbon footprint. Yet, others see in this an opportunity for EU to leverage its geoeconomic influence, to push further the clean trade and investment partnerships and the climate diplomacy agenda, to strengthen the UNFCCC process at a time where the US is creating a leadership void and to transform article 6 into an incentive for investing in CDR technologies over the long term.
This joint Ifri & ERCST roundtable will explore these positions and questions and seek to guide the reflections on the way forward for the EU.
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