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EU ETS Market Stability Reserve: Coping with COVID-19 and preparing for the review
June 16, 2020 @ 2:00 pm - 3:45 pm
This meeting is part of an ongoing effort by ERCST to promote a discussion on the review of the Market Stability Reserve (MSR), scheduled in 2021. ERCST has organised several meetings on this topic throughout 2019, and launched its paper “Preparing the review of the Market Stability Reserve” last November.
Half a year later, the context of this upcoming review has changed completely. The European Green Deal announced an increase in the 2030 and 2050 ambition, and mandated a review of the entire Energy and Climate Framework, for which the proposal is expected by June 2021. In recent months, Europe and the rest of the world has been hit by COVID-19, and the measures put in place to address the health crisis will have strong impacts on the economy, accompanied by significantly lower CO2 emissions in 2020.
This meeting aims to explore the ramifications of the current crisis on the EU ETS, and on the functioning of the Market Stability Reserve. Moreover, a discussion is warranted on what is still to be expected from the mandated MSR review itself, given the expected proposal for the revision of the entire ETS directive, and how the two will be articulated.
Background note on the MSR by ERCST
Presentation by ERCST
Presentation by L. Redshaw, Redshaw Advisors
Presentation by H. Fjellheim, Refinitiv
Presentation by J. Graichen, Öko-Institut
Presentation by M. Ovaere, Yale University