ERCST

Launch Event: Solutions for exports of EU CBAM-covered goods
2025-03-25 15:00 - 17:00 (Europe/Paris) | online
This was an online event.
The CBAM’s transitional period is underway, however several issues remain unresolved ahead of the definitive period and numerous delegated and implementing legislations, along with reviews are due before the end of the transitional period. Altogether, 2025 will be an important year for the CBAM, with decisions on principal design parameters through several reviews and implementing and delegated acts scheduled throughout the year.
ERCST’s ‘Border Carbon Adjustments in the EU – Phase VI’ workstream will start off 2025 by revisiting the topic of exports.
At this event the ERCST launched and presented a paper that identifies solutions for addressing the carbon leakage risk associated with EU-produced goods subject to the CBAM that are destined for export to third countries. Building on ERCST’s work in Phase III on a WTO-aligned export solution, and in Phase V on the broader implications of the CBAM for export-oriented sectors, the paper proposes an updated policy mechanism to mitigate the competitiveness impacts on exporters.
The launch of the paper was followed by interventions by a set of panellists, as well as meeting participants.
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Launch Event - Future of Emissions Trading in the EU: Price Signal and Competitiveness (Public Event)
2025-03-27 10:00 - 12:00 | ERCST Rue Archimède 61, 1000 Bruxelles
This was an in-person event.
This was the launch event of the ERCST report on the ‘Price signal & competitiveness’, under the framework of the ‘Future of the Emissions Trading in the EU’ project.
The “Future of Emissions Trading System in the EU” is a process that ERCST is putting in place to provide original analytical insights, pinpoint challenges, and propose solutions for the evolution of the Emissions Trading System in the EU with the participation in this important debate of EU institutions and EU stakeholders. In the framework of this sub-workstream, ERCST has been organising thematic events along the year focused on key issues for the Emission Trading in the EU. This is the third of seven reports ERCST will produce in the framework of the Future of the Emission Trading in the EU project.
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Draft Agenda

Expert consultation: Extension of the CBAM scope
2025-04-08 15:00 - 17:00 | online
This was an online event.
While the CBAM’s transitional period is underway, several issues remain unresolved ahead of the definitive period, and numerous delegated and implementing legislations, as well as reviews, are due before the end of the transitional period.
Altogether, 2025 is a pivotal year for the CBAM, with key decisions on its main design parameters expected through multiple reviews, as well as implementing and delegated acts scheduled throughout the year.
In the second report under the ‘Border Carbon Adjustments in the EU – Phase VI’ workstream, ERCST will explore the extension of the CBAM scope to downstream products and additional sectors, in anticipation of the formal review by the European Commission planned for 2025.
At this expert consultation, the ERCST will invite a small group of key stakeholders to discuss the implications of expanding the CBAM scope and explore the key KPIs that should be evaluated when considering its extension to specific downstream products and additional sectors.
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Stakeholder Consultation - Advancing BECCS in the EU: a Policy Perspective
2025-04-10 15:00 - 16:30
Register Online
This is an online event.

The European Union’s commitment to achieving climate neutrality by 2050 necessitates the deployment of negative emissions technologies, with Bioenergy with Carbon Capture and Storage (BECCS) being a pivotal component. BECCS offers the unique advantage of generating renewable energy while simultaneously removing carbon dioxide from the atmosphere. However, its large-scale implementation requires careful policy planning to ensure that it aligns with sustainable land use practices and does not adversely affect food security or compete excessively for land resources.
This event is dedicated to exploring how policy can advance BECCS deployment within the EU in a manner that harmonizes land use with carbon dioxide removal objectives. We will delve into the legislative measures and regulatory frameworks needed to facilitate sustainable BECCS integration into the EU’s climate and energy policies. The discussions will address the complexities of aligning land use policies with BECCS goals, considering the multifaceted challenges of land availability, and biomass sourcing.
Agenda

Stakeholder Consultation - Leveraging CO₂ in the Circular Carbon Economy
2025-05-08 15:00 - 16:30
This is an online event.
You are welcome to register through the link below. Registered participants will receive an automatic confirmation email after registration.
Register Online
The transition to a climate-neutral economy requires innovative policy approaches to carbon management. As the European Commission advances its Industrial Carbon Management Strategy, there is a pressing need to examine the policy frameworks and implementation mechanisms that will enable widespread CO₂ utilization in the EU. This stakeholder consultation will analyze the critical policy instruments and regulatory frameworks needed to create a thriving market for CO₂-derived products.
The discussion will address key policy enablers and barriers for CO₂ utilization deployment, explore and examine the role of crediting certification schemes. By bringing together policymakers, industry stakeholders, and experts, the event aims to identify concrete policy recommendations to accelerate the development of a robust Circular Carbon Economy in alignment with EU climate objectives.
Agenda

Stakeholder Roundtable – Future of Emissions Trading in the EU: Carbon Dioxide Removals (CDRs)
2025-05-12 10:30 - 12:30 | ERCST Rue Archimède 61, 1000 Bruxelles
This is an in person event. “Important! Online participation is only allowed for attendees located outside Brussels”
This meeting is by invitation only. If you are interested in attending, please contact pnouallet@ercst.org.
This meeting is intended as a brainstorming meeting for a small group of invited stakeholders and policy makers, in the framework of ERCST’s ‘Future of the Emissions Trading in the EU’ project.
The “Future of Emissions Trading System in the EU” is a process that ERCST is putting in place to provide original analytical insights, pinpoint challenges, and propose solutions for the evolution of the Emissions Trading System in the EU with the participation in this important debate of EU institutions and EU stakeholders. In the framework of this sub-workstream, ERCST has been organising thematic events along the year focused on key issues for the Emission Trading in the EU. This is the fourth of seven reports ERCST will produce in the framework of the Future of the Emission Trading in the EU project.

This stakeholder session will feed the final Report on “Carbon Dioxide Removals (CDRs)”, to be launched in June.
Draft Agenda

2025 State of the EU ETS Report - Launch Event (Public Event)
2025-05-21 15:00 - 17:00 | University Foundation, Rue d’Egmont, 11, Brussels, 1000, Belgium
This was an in-person event.
This is the launch event of the 2025 State of the EU ETS Report[1]. During this event the report will be presented by the authors and discussed by commentators. This will be the tenth annual report on the State of the EU ETS and builds on the reports produced by this group of authors, and other partners, in the last years. The 2024 edition is available through this link.
The annual “State of the EU ETS” Report aims to provide such an independent contribution to the policy debate, which is needed to ensure that the EU ETS is “fit for purpose”. The Report is intended as a “snapshot”, providing policymakers and stakeholders with an overview of how the EU ETS is doing by April of each year, based on previous year data. This event will cover the 2025 Report. This year’s edition reflects the track record of the ETS last year, its recent developments, and the role the ETS is expected to play in the longer term.
[1] The 2025 State of the EU ETS Report is a joint effort between ERCST, Compass Lexecon, BloombergNEF, and the Wegener Centre for climate and global change at the University of Graz.
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Bioenergy with Carbon Capture and Storage in the EU: Challenges and Opportunities
2025-06-03 15:00 - 16:30
This was an online event.
The report examines Bioenergy with Carbon Capture and Storage (BECCS) in the European Union context, focusing on its potential role in meeting climate targets and the associated challenges and opportunities for implementation.
The scope of this report encompasses:

Policy landscape analysis within the EU framework, particularly the Carbon Removals Certification Framework (CRCF), Renewable Energy Directive (RED), and potential integration with the EU Emissions Trading System (EU ETS).
Challenges in the deployment in the EU:

Technical and infrastructure limitations
Regulatory and financial barriers

The report aims to:

Evaluate the role of BECCS in reaching the EU’s climate targets, particularly in light of the European Commission’s 2040 climate target recommendation and IPCC projections
Identify key barriers to BECCS deployment at scale within the European context.

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Launch Event: Extension of the CBAM Scope
2025-06-12 15:00 - 17:00 | online
This is an online event.
As the EU navigates the CBAM transitional period, 2025 stands out as a critical year for shaping its future. With crucial reviews underway and key implementing decisions pending before the definitive period begins, the landscape is actively evolving. A central question in current discussions is the potential expansion of the CBAM scope.
This second report under ERCST’s ‘Border Carbon Adjustments in the EU – Phase VI’ workstream will explore the extension of the CBAM scope to additional sectors and downstream products.
At this event, the ERCST will launch and present a paper that analyzes the potential for expanding the CBAM scope to additional sectors and downstream products, in anticipation of the formal review by the European Commission planned for this year.
Based on active stakeholder engagement, it will assess the implications of expanding (or not expanding) the CBAM scope, and offer recommendations on the factors to evaluate when deciding to bring new sectors and/or products under the scope.
Draft Agenda
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European Hydrogen Bank – Second Auction and Next Steps (Public Event)
2025-06-19 10:30 - 12:30 | ERCST Rue Archimède 61, 1000 Bruxelles
This was an online event.
The EU Hydrogen Bank was established to attract private investments in renewable hydrogen and strengthen hydrogen value chains across Europe. Following the first pilot auction in 2023, the European Commission launched a second auction in December 2024 with revised terms, including new resilience requirements, a focus on industrial competitiveness, and a dedicated budget for maritime projects. Spain, Lithuania, and Austria also joined the “Auctions-as-a-Service” scheme for this round. The auction received 61 bids, with results expected by mid-2025.This event discussed the structure of the Hydrogen Bank, analyzed the outcomes of the second auction, and explored potential adjustments for future auctions.
Key questions to be addressed included:

Which are the main ‘learnings’ from the first and second auction?
Should low-carbon hydrogen be included in the scope of the Hydrogen Bank and its future auctions?
Should the Hydrogen Bank keep providing a separate basket for specific sectors? If yes, which ones?
Should the ‘resilience requirement’ be expanded to other countries in addition to China?

Agenda Slides Recording

Launch Event - Future of emissions trading in the EU: CDRs
2025-06-26 14:00 - 16:00 | University Foundation, Rue d’Egmont, 11, Brussels, 1000, Belgium
The launch event was held at the University Foundation, Rue d’Egmont 11, 1000 Brussels

This event marks the launch of the Carbon Dioxide Removals (CDRs) Report, part of the “Future of Emissions Trading in the EU” project. This initiative by ERCST aims to provide original analytical insights, identify challenges, and propose solutions for the evolution of the EU Emissions Trading System (EU ETS) during the second phase of Phase IV (2025–2030) and beyond. Throughout the year, a series of reports will be released, each addressing different facets of the EU ETS’s future.
In line with the EU ETS Directive, the European Commission is mandated to annually assess the system’s functioning and future design. In June 2024, the Commission initiated a call for tenders to support the evaluation of the EU ETS and the Market Stability Reserve (MSR), as well as the 2026 review of both mechanisms. Building on this, in April 2025, the Commission launched a 12-week public consultation to gather stakeholder views on the evaluation and review of the EU ETS and MSR, aiming to ensure the system continues to contribute effectively to the EU’s climate neutrality goals by 2050 .
Complementing the Commission’s official review, independent assessments play a crucial role in evaluating the EU ETS’s functionality and delivery. This event will present the fourth report of the “Future of Emissions Trading in the EU” initiative, focusing on Carbon Dioxide Removals. The authors will present their findings, followed by a discussion with participants.
Agenda
Read the report
Watch the recording

2040 Climate Target: EU’s Climate Turning Point?
2025-07-08 10:00 - 12:00 | online
This was an online event.
The European Climate Law required the EU to set a 2040 climate target within six months of the first Global Stocktake under the Paris Agreement—an essential milestone on the path to climate neutrality. On 6 February 2024, the EU Commission published its Communication ‘Securing our future – Europe’s 2040 climate target and path to climate neutrality by 2050 building a sustainable, just and prosperous society’, recommending a 90% net reduction in greenhouse gas emissions by 2040 compared to 1990 levels. The 2040 target, once agreed, will form the basis of the EU’s new Nationally Determined Contribution (NDC) under the Paris Agreement, to be communicated to the UNFCCC before COP30.

The Commission officially published the 2040 climate target on July 2, 2025.

This event discussed the implications of the EU’s 2040 climate target across sectors, examined the enabling conditions identified by the Commission, and assessed the alignment of the target with long-term climate neutrality goals.

Draft agenda Slides Recording

Omnibus Simplification Package: CSRD, CSDDD - Where Do We Stand?
2025-07-16 10:00 - 12:00 | online
This was an online event.
On February 26, 2025, the EU Commission published the “Omnibus Simplification Package”, proposal introducing adjustments to the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD). The Omnibus aims to reduce regulatory burdens particularly for small and medium-sized enterprises (SMEs) and certain larger companies, while reinforcing the EU’s commitment to enhancing competitiveness and ensuring a more proportionate and practical implementation of sustainability obligations.
Currently, both the Council of the EU and the European Parliament are working on their draft positions, which will form the basis for Trilogue negotiations expected in the fall.
The goal of this event was to analyse the proposed changes introduced by the European Commission and, where available, the draft positions of the Council and Parliament. Additionally, the event offered a platform to discuss the main challenges and opportunities associated with simplifying and implementing the CSRD and CSDDD frameworks, particularly in terms of feasibility, international coherence, and business impact.
Draft Agenda Slides Recording

ERCST Brainstorming Session - European Climate Law Amendment & 2040 Target
2025-08-26 09:30 - 11:00 | online
This is a by-invitation only ONLINE event. If you are interested in joining please contact ccavallera@ercst.org
This meeting is intended as a discussion on the recently launched public consultation by the European Commission on the amendment of European Climate Law to include the 2040 climate target, open for feedback from 21 July 2025 to 15 September 2025.
ERCST is considering submitting feedback to this consultation. We recognize its importance and would like to discuss with you and hear a diverse set of views to ensure that our contribution is well grounded.
Agenda

Stakeholder Roundtable – Future of Emissions Trading in the EU: Agriculture ETS
2025-09-03 10:00 - 12:00 | Curalia, Rue des Deux Églises 33, 1000 Bruxelles, Rue des Deux Églises 33, Bruxelles, 1000, Belgium
!!! VENUE CHANGE !!! – Event will now be held at Curalia, Rue des Deux Églises 33, 1000 Bruxelles

This is an in person event. “Important! Online participation is only allowed for attendees located outside Brussels”

This meeting is by invitation only. If you are interested in attending, please contact ncaruana@ercst.org.
This meeting is intended as a brainstorming meeting for a small group of invited stakeholders and policy makers, in the framework of ERCST’s ‘Future of the Emissions Trading in the EU’ project. The fifth theme to be addressed by the project concerns ‘Agriculture ETS’, with the Report to be released in October 2025.
The “Future of Emissions Trading System in the EU” is a process that ERCST is putting in place to provide original analytical insights, pinpoint challenges, and propose solutions for the evolution of the Emissions Trading System in the EU with the participation in this important debate of EU institutions and EU stakeholders. In the framework of this sub-workstream, ERCST has been organising thematic events along the last 2 years focused on key issues for the Emission Trading in the EU. This is the fifth of seven reports ERCST will produce in the framework of the Future of the Emission Trading in the EU project.
Draft Agenda

Focus Group - Bridging the CDR funding gap: design options and policy choices
2025-09-09 15:00 - 16:30
This is an online event.
By invitation only. If you are interested in attending, please contact mvarricchio@ercst.org
This Focus Group is designed to examine how the European Union can accelerate the deployment of permanent CDR solutions by designing effective funding mechanisms. The discussion will begin with an exploration of the current landscape of CDR financing in the EU, acknowledging that while CDR is increasingly recognized as a strategic tool for achieving climate neutrality by 2050, the existing funding frameworks remain fragmented and complex to navigate.
Key topics will include the potential of a public purchasing programme for permanent carbon removal credits, the design and application of Carbon Contracts for Difference (CCfDs), and the role of other mechanisms such as competitive tenders and voluntary markets. The event will encourage debate on the advantages, risks, and trade-offs of each approach, and seek input on policy choices that can ensure high-quality, verifiable removals while mobilizing both public and private investment.
The goal is to identify actionable pathways for the EU to lead in the development and scaling of robust CDR solutions as part of its climate neutrality strategy.

Agenda

Expert Consultation: EU CBAM Implementation Challenges
2025-09-10 15:00 - 17:00 | online
This meeting is by invitation only. If you are interested in attending, please contact lfleury@ercst.org.
As the EU navigates the CBAM transitional period, 2025 is a pivotal year for shaping its future. Crucial reviews are underway, and key implementing decisions are pending before the definitive period kicks off on January 1st, 2026.
In its third report under the ‘Border Carbon Adjustments in the EU – Phase VI’ workstream, the ERCST will explore the implementation challenges and, particularly, the circumvention risks of the CBAM.
At this expert consultation, the ERCST will bring together a small group of key stakeholders to discuss circumvention risks related to the CBAM, including resource shuffling, transshipment, artificial splitting, and strategic product modifications.
We’ll delve into how these loopholes could undermine the CBAM’s environmental integrity and economic impact, assess the effectiveness of the EU CBAM’s current design in mitigating these threats, and collectively identify solutions.
Draft agenda

Macro Economic Implications of the 2040 EU Climate Change Target
2025-09-15 16:30 - 18:00 | online
This was an online event.
On 2 July 2025, the European Commission published the EU’s 2040 climate target, proposing a 90% net reduction in greenhouse gas emissions from 1990 levels. While the target provides clarity on the EU’s climate trajectory towards 2050, it also carries significant macroeconomic implications. Delivering such a deep decarbonisation pathway will require major structural transformations across European economies, with wide-ranging consequences for competitiveness, fiscal sustainability, labour markets, and investment patterns. At the same time, it creates opportunities for innovation, technological leadership, and long-term growth.
This event focused on the macroeconomic implications of the 2040 target. Bringing together leading experts in economics and climate policy, the discussion explored the trade-offs, risks, and opportunities of the EU’s climate ambition, and assessed how policy can support both climate neutrality and economic resilience.
Draft Agenda Read our Feedback to the EC Watch the recording

Cracking the dilemma of international carbon credits in the EU 2040 target: can EU’s climate action turn geopolitical without losing domestic integrity?
2025-09-17 11:00 - 14:00 | Conseil central de l’économie, Avenue de la Joyeuse Entrée, 17, 1040 Bruxelles
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 explored these positions and questions and seeked to guide the reflections on the way forward for the EU.

Draft agenda Read our feedback to the EC Recording

Low-Carbon Hydrogen Delegated Act: a turning point for the hydrogen market ramp-up? (Public Event)
2025-09-25 15:00 - 17:00 | conseil central de l’economie, Avenue d’auderghem 20, 1000 Brussels
This was an in-person event. “Important! Online participation is only allowed for attendees located outside Brussels”
This event aimed to discuss the final version of the Delegated Act on low carbon fuels (for which low-carbon hydrogen is the key component) and assess whether it will drive meaningful change by facilitating the scale-up of the hydrogen market, boosting demand, and providing much-needed clarity on the methodology for calculating GHG emissions from low-carbon hydrogen.
Key questions that were addressed include:

Does the recently published Delegated Act provide sufficient clarity and certainty to support long-term investment decisions and accelerate the ramp-up of the hydrogen market?
Is the Delegated Act sufficiently technology neutral to foster innovation across a broad range of low-carbon hydrogen production pathways, beyond electrolysis?
What are the most significant implementation challenges that you foresee with the Delegated Act?

This event was under Chatham House Rule.
Draft Agenda Slides

Debate - Review of the EU CO2 Emission Performance Standards for New Cars and Vans
2025-09-30 09:30 - 11:00 | online
This is an online event.
By invitation only. If you are interested in attending, please contact mvarricchio@ercst.org
In April 2023, the European Union amended Regulation (EU) 2019/631, setting stricter CO2emission performance standards for new passenger cars and light commercial vehicles, targeting a 100% emission reduction by 2035. The European Commission is now reviewing these standards, as mandated by Article 15, to assess progress towards the 2035 targets, considering technological developments and the need for an economically viable transition to sustainable mobility.
ERCST intends to contribute to the ongoing public consultation. The purpose of this session is to discuss and analyze the proposed review of the CO2 emission performance standards. The meeting is structured as a workshop for a selected group of invited stakeholders and experts to explore potential implications and gather diverse perspectives.

Draft Agenda

Public Debate - Flexibility in the EU’s Road Transport Decarbonization Policy: Electrification and Sustainable Fuels
2025-10-07 15:00 - 17:00 | Curalia, Rue des Deux Églises 33, 1000 Bruxelles, Rue des Deux Églises 33, Bruxelles, 1000, Belgium
Register in person
Register online

This is a hybrid event. Important! Online participation is only allowed for attendees located outside Brussels.
This debate seeks to explore and critically examine the range of strategies available to reduce carbon emissions in the transport sector. While electrification is widely recognized by the EU as a cornerstone of its decarbonization efforts, relying exclusively on it may not be a universally applicable or sufficient solution for all segments of road transport. The discussion aims to delve into alternative and complementary approaches, such as the use of sustainable fuels—including e-fuels, biofuels, and hydrogen—and how these can be integrated into a balanced and effective policy framework.
Participants will engage in a thorough examination of the merits and limitations of an electrification-only strategy. The debate will consider technical, economic, and operational challenges faced by various transport modes, particularly those where electrification is more difficult to implement, such as long-haul freight, heavy-duty vehicles, and certain specialized transport services.
A key focus of the debate will be the importance of adopting technology-neutral policies. This approach encourages the creation of regulatory frameworks that do not favor one specific technology but instead support a competitive market environment where multiple decarbonization technologies can be viable. By promoting innovation across all viable technologies, the EU can accelerate progress toward its climate goals while avoiding unintended consequences such as market distortions or reduced industrial competitiveness.

Agenda

Launch Event - Future of Emissions Trading in the EU: Agriculture ETS (Public Event)
2025-10-14 10:00 - 12:00 | Conseil central de l’économie, Avenue de la Joyeuse Entrée, 17, 1040 Bruxelles
This was an in person event. “Important! Online participation is only allowed for attendees located outside Brussels”
This was the launch event of the Agriculture ETS Report, under the framework of the Future of the EU ETS project. The “Future of the EU ETS” was a process ERCST is putting in place to provide original analytical insights, pinpoint challenges, and propose solutions for the evolution of the EU ETS during the second Phase of phase IV (2025-2030) and post-Phase IV.
Following the example of the recent extension of carbon pricing to road transport and buildings, emission trading in agriculture could provide the right incentives to decarbonise this sector.
This event covered the Agriculture ETS Report, this being the fifth report of the Future of the EU ETS project. The authors presented their findings, followed by a discussion with participants.
Agenda Report Slides Recording
Draft Agenda

Stakeholder Consultation - Bridging the CDR funding gap: design options and policy choices
2025-10-14 15:00 - 16:30
This is an online event.
By invitation only. If you are interested in attending, please contact mvarricchio@ercst.org
This Stakeholder Consultation is designed to examine how the European Union can accelerate the deployment of permanent CDR solutions by designing effective funding mechanisms. The discussion will begin with an exploration of the current landscape of CDR financing in the EU, acknowledging that while CDR is increasingly recognized as a strategic tool for achieving climate neutrality by 2050, the existing funding frameworks remain fragmented and complex to navigate.
Key topics will include the potential of a public purchasing programme for permanent carbon removal credits, the design and application of Carbon Contracts for Difference (CCfDs), and the role of other mechanisms such as competitive tenders and voluntary markets. The event will encourage debate on the advantages, risks, and trade-offs of each approach, and seek input on policy choices that can ensure high-quality, verifiable removals while mobilizing both public and private investment.
The goal is to identify actionable pathways for the EU to lead in the development and scaling of robust CDR solutions as part of its climate neutrality strategy.

Agenda
Daft Agenda

Stakeholder consultation: Towards a comprehensive hydrogen infrastructure - assessing progress and addressing gaps
2025-10-15 15:00 - 17:00 | online
This is a by-invitation only ONLINE event. If you are interested in joining please contact ccavallera@ercst.org
The development of a robust hydrogen infrastructure is a key enabler of the EU’s decarbonisation ambitions and the broader green transition.
ERCST aims to collect relevant feedback on this topic to support the drafting of a comprehensive policy paper.
Key topics to be discussed during this stakeholders consultation include:
•⁠ ⁠The current status of hydrogen infrastructure development, including pipelines and terminals;
•⁠ ⁠Key uncertainties and challenges, including permitting, cross-border coordination, and demand visibility;
•⁠ ⁠Mechanisms in place to support infrastructure rollout, such as financing instruments and policy tools;
•⁠ ⁠The upcoming European Grid Package (expected Q1 2026), which aims to accelerate the upgrade, digitalisation, and expansion of the European grid. While primarily focused on electricity, it will also address hydrogen and other infrastructure relevant to TEN-E corridors.
Draft Agenda

Stakeholder Roundtable - Future of the EU ETS: EU ETS - CBAM Strawman
2025-10-21 14:00 - 16:00 | conseil central de l’economie, Avenue d’auderghem 20, 1000 Brussels
This is an in person event. “Important! Online participation is only allowed for attendees located outside Brussels”
This meeting is by invitation only. If you are interested in attending, please contact ncaruana@ercst.org.
This meeting is intended as a brainstorming session for a small group of invited stakeholders and policymakers, within the framework of ERCST’s initiative on the “future of emissions trading in the EU”. The final theme under discussion in this project is the “EU ETS – CBAM Strawman”, with the report to be released in December 2025.
The “Future of Emissions Trading System in the EU” is a process that ERCST is putting in place to provide original analytical insights, pinpoint challenges, and propose solutions for the evolution of the Emissions Trading System in the EU with the participation in this important debate of EU institutions and EU stakeholders. In the framework of this sub-workstream, ERCST has been organising thematic events along the last 2 years focused on key issues for the Emission Trading in the EU.
Draft Agenda

Launch Event: EU CBAM Circumvention Risks & Resource Shuffling
2025-10-22 15:00 - 17:00 | online
As the EU navigates the CBAM transitional period, 2025 is a pivotal year for shaping its future. Crucial reviews are underway, and key implementing decisions are pending before the definitive period kicks off on January 1st, 2026.
In its third report under the ‘Border Carbon Adjustments in the EU – Phase VI’ workstream, the ERCST will explore the implementation challenges and, particularly, the circumvention risks of the CBAM and resource shuffling.
At this event, the ERCST will present its paper assessing the different types of circumvention risk and how these loopholes could undermine the CBAM’s environmental integrity and economic impact. It will assess the effectiveness of the CBAM’s current design in mitigating these threats and make recommendations.

Agenda
Register here

ERCST & Veyt 2026 Review of the EU ETS and MSR: Whitepaper Launch Event (Public)
2025-10-29 09:30 - 11:30 | Conseil central de l’économie, Avenue de la Joyeuse Entrée, 17, 1040 Bruxelles
Register in person Register online
This event, organized in partnership between ERCST and Veyt, marks the launch of a new whitepaper by Veyt, exploring reform options for the Market Stability Reserve (MSR) under the EU Emissions Trading System (EU ETS). The study presents multiple scenarios, and model runs assessing the impact of different design choices on market balance, price trajectories, and policy trade-offs. Veyt’s study focuses on a dynamic release function accounting for increasing future market tightness as well as the interaction with supply adjustments resulting from the RePowerEU programme.
In line with the EU ETS Directive, the European Commission is mandated to annually assess the system’s functioning and future design. In June 2024, the Commission initiated a call for tenders to support the evaluation of the EU ETS and the Market Stability Reserve (MSR), as well as the 2026 review of both mechanisms. Building on this, in April 2025, the Commission launched a 12-week public consultation to gather stakeholder views on the evaluation and review of the EU ETS and MSR, aiming to ensure the system continues to contribute effectively to the EU’s climate neutrality goals by 2050.
Complementing the Commission’s official review, independent assessments play a crucial role in evaluating the EU ETS’s functionality and delivery.
The authors will present their findings, followed by a moderated roundtable discussion. Participants from industry, financial institutions, Member State governments, civil society, and the European Commission.
Draft Agenda

International Townhall: EU CBAM Circumvention Risks & Resource Shuffling
2025-10-30 15:00 - 17:00 | online
As the EU navigates the CBAM transitional period, 2025 is a pivotal year for shaping its future. Crucial reviews are underway, and key implementing decisions are pending before the definitive period kicks off on January 1st, 2026.
In its third report under the ‘Border Carbon Adjustments in the EU – Phase VI’ workstream, the ERCST will explore the implementation challenges and, particularly, the circumvention risks of the CBAM and resource shuffling.
At this event, the ERCST will present its paper assessing the different types of circumvention risk and how these loopholes could undermine the CBAM’s environmental integrity and economic impact, and make recommendations. Additionally, this event will discuss cooperation opportunities to ensure fair, transparent, and effective implementation of CBAM.
Draft agenda
Register here

Omnibus Simplification Package - Preparing for Trilogues
2025-11-05 15:00 - 17:00 | Conseil central de l’économie, Avenue de la Joyeuse Entrée, 17, 1040 Bruxelles
This was an in-person event. “Important! Online participation is only allowed for attendees located outside Brussels”.
VENUE CHANGE: ROOM 1, Conseil central de l’economie, avenue de la joyeuse entree 17
This event is under Chatham House rules.
On February 26, 2025, the EU Commission published the “Omnibus Simplification Package”, proposal introducing adjustments to the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD). The Omnibus aims to reduce regulatory burdens particularly for small and medium-sized enterprises (SMEs) and certain larger companies, while reinforcing the EU’s commitment to enhancing competitiveness and ensuring a more proportionate and practical implementation of sustainability obligations.
Ahead of the trilogues commencing after October 2025, the Council and the Parliament have finalised their negotiating positions.
The goal of this event is to discuss the Draft texts from the Council and the EU Parliament and assess whether the amendments proposed will lead to substantial changes in CSRD and CS3D. This discussion will lead to potential suggestion of additional improvements to the text.
Draft Agenda Recording Slides
