ERCST

EU-Turkey Climate Policy Dialogue: Role of Civil Society in developing climate policies
2022-02-23 10:00 - 12:30 UTC
This workshop was part of the project EU – Turkey Climate Policy Dialogue for civil societies. The overall objective of the project was to establish a sustained dialogue between Turkish and EU CSOs, private actors and public institutions on the articulation of Climate Change policy between the EU and Turkey and climate policy development in general.
This workshop focused on the key role Civil Society Organizations (CSOs) play in the EU in developing climate policies, both through informal and formal participation processes and identify best and concrete practices that Turkish CSOs could implement. A number of CSOs were invited to engage in a panel discussion in order to get a better understanding of what this means for EU and Turkish stakeholders.
Lastly, it was an opportunity for Turkish and European CSOs to establish a dialogue and to highlight additional elements they would like to see as part of this project, and what kind of format and topics they would like to touch upon in the next workshops.
Agenda ERCST Slides Europe Beyond Coal Slides

Article 29a EU ETS Directive - EU Measures in the event of excessive price fluctuations
2022-02-25 10:00 - 11:30 UTC
In January 2021, the EC carbon price raised to 89.42 euros/tons of CO2. One year before, the EU carbon price was 33 euros/tons of CO2. This rapid price increase in addition to the recent energy crisis, has triggered discussions about the possibility of EU authorities to trigger the Article 29 of the EU ETS Directive or at least to revise it. Under Article 29, if for more than six consecutive months, the allowance price is more than three times the average price of allowances during the two preceding years, the Commission shall convene a meeting of the Climate Change Committee. Since the creation of the EU ETS in 2005, the mechanism has not been triggered so far.
This event introduced the current legislative framework. The presentation was followed by an interactive roundtable of key stakeholders and policy makers that argued if the current EU mechanisms are fit for purpose to protect against formation of price bubble in the EU ETS Market, the role of speculation and its impact on compliance entities.
Final Agenda ERCST Slides BEIS UK Slides KOBiZE Slides PIK Postdam Slides
BloomBerg NEF Slides EuroAlliagues Slides Sandbag Slides EFET Slides
California ARB Video.

Border Carbon Adjustment in the EU - CBAM Scope 2 emissions
2022-03-02 15:00 - 17:00 UTC
The European Commission has proposed a Carbon Border Adjustment Mechanism, aiming to have the regime functional by 2023, and negotiations are ongoing on the shape of the final instrument. One of the most critically important issues, yet to be resolved, is the question of whether Scope 2 emissions should be included under the mechanism.
This session brought together global experts in the areas of economics, law, and policy to explore the critical underlying questions and assess proposals to address them.
Agenda Eurometaux Slides

Joint roundtable ‘The IMF proposal for an international carbon price floor: a quantitative analysis’
2022-03-09 14:00 - 15:30 UTC
PwC has recently published in the context of COP26 a study together with the World Economic Forum (WEF) on the international carbon price, which finds that an international carbon price floor would pay for itself and reduce global carbon emissions by 12.5%.
The international carbon price floor would also further support the EU CBAM’s objective of preventing carbon leakage by incentivising engagement with lower income countries and incentivising and supporting a fair global transition.
This roundtable discussion revolved around:
● How could an international carbon price agreement be designed and implemented and what economic and environmental impacts would it have.
● How can the proposals in the Fit for 55 package promote an international carbon price floor.
● How CBAM can incentivise more countries to adopt market-based ETS systems for carbon pricing that are consistent with the international carbon price floor.
● The need for an accompanying financial mechanism to direct the revenue generated towards supporting lower income countries to gradually increase the carbon price and reach net zero by 2050 as necessary to achieve the global climate targets.
Agenda PwC Report Slides

EU Taxonomy: impacts on other policies
2022-03-11 10:00 - 12:00 UTC | online
This meeting took the form of a working group where stakeholders discussed specific elements of the EU sustainable finance agenda. This meeting was dedicated to the topic of EU Taxonomy impacts on other policies. Indeed, ERCST considers the analysis of the interactions of the EU Taxonomy with other policies an important element because, among other things, these interactions will also have an impact on the overall functioning of the EU industry and financial market. ERCST considers that the EU Taxonomy Regulation will have two main types of impacts and interplays:

First, impacts on other sustainable finance (SF) policies. Notably, ERCST intends to analyze the EU Green Bond Standard (EU GBS), the proposed Corporate Sustainability Reporting (CSRD) Directive and the Corporate Governance Initiative.
Second, interplays with other environmental and climate policies. Notably, ERCST intends to analyze those related to carbon pricing (i.e., the EU Emissions Trading Scheme and the Energy Taxation Directive), and those shaping public (and private) finance and aid schemes such as the Recovery and Resilience Facility and Invest EU

The 2 working groups discussed these impacts.
Agenda ERCST Slides

Shaping ERCST's feedback on the hydrogen and decarbonised gas package
2022-03-16 10:00 - 12:00 UTC | ERCST, Rue Archimède 61, Bruxelles, 1000, Belgium
After the publication of the European Commission Hydrogen Strategy in July 2020 and after the publication of the Fit for 55 first set of publications in July 2021, the Commission proposed on December 15th 2021 a set of legislative proposals including the revision of the Gas Regulation 715/2009 and the Gas Directive 2009/73 (the package). Following the proposals, the Commission has opened a feedback period that will be opened for several weeks to assess stakeholder’s reactions to the package.
Drawing on the lessons of previous stock-takes on the topic discussed in December 2021 and January 2022, this meeting intends to shape ERCST feedback to the European Commission proposals.
This meeting intends to contribute shaping ERCST response to the European Commission Public Consultation on the hydrogen and decarbonized gas market package on three main issues:

Is the proposed definition for low-carbon hydrogen aligned with the ambitions of the European Commission hydrogen strategy?
Are we making an excessive use of regulation for hydrogen transportation infrastructure before making sure the demand side is mature and incentivized enough as to justify this level of regulatory intervention?
Based on the proposed regulatory framework is the EU encouraging hydrogen imports? Should the EU take this stance?

AGENDA ERCST Slides Bellona Slides Enagas Slides ERCST Publication

Development impact of EU’s CBAM
2022-03-16 15:30 - 17:00 UTC
Co-convened by ERCST and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ)
The European Green Deal has strengthened the level of climate ambition by aiming to achieve climate neutrality in the European Union by 2050. The European Commission has proposed a Carbon Border Adjustment Mechanism (CBAM) as the preferred option to address the risk of carbon leakage.
This session explored the development dimension of the proposed CBAM along the following guiding questions:

What are the expected impacts of the CBAM for developing country exporters?
What design element choices are most important in determining those impacts?
What parallel measures (outside the CBAM legislation) might the EU adopt to best position the CBAM from a development perspective?
What kinds of policies might exporting developing countries adopt to support their exporters as the CBAM comes into effect?

Agenda Recording

Border Carbon Adjustment in the EU – Launch of Report on Exports in CBAM
2022-03-18 14:00 - 15:30 UTC
Since 2019, ERCST has built up solid experience on BCAs and carbon leakage issues in the EU context. The ERCST Team has accompanied the CBAM file from its earliest stages in the legislative process, providing analytical input to the discussion on BCAs and fostering an informed debate with domestic and international stakeholders.
At this event, the ERCST presented its report on one of the “crunch issues” in the EU’s CBAM: Exports. Exports are currently not included in the Commission’s CBAM proposal due to significant legal uncertainty regarding the alignment with WTO rules. However, there are concerns that the exclusion of exports will open up an export-related carbon leakage channel, thereby harming EU competitiveness and climate ambition.
The ERCST presented its analysis and discussed the findings with those present, thereby contributing to the understanding of what it means to address exports in the CBAM.
Agenda ERCST Slides ERCST Report ERCST Policymaker Summary Recording

EXTERNAL EVENT: CEPR Research and Policy Network on Climate Change
2022-03-21 17:00 - 19:00 UTC
On the 21st of March, Andrei Marcu, Executive Director of ERCST, spoke at the CEPR Research and Policy Network on Climate Change, Hybrid Webinar ‘Economics of Border Adjustments’.
Agenda Recording

The impact of commodity prices on energy transition and regulatory framework
2022-04-06 10:45 - 12:45 (Europe/Paris) | online
This event is part of a ERCST series which tales the state of play of the debate in energy prices after the release of the EC toolbox and REPowerEU Communication as well as looking forward to the direct EC framework. Stocktaking on Council discussions and following the previous event on “Electricity prices in the EU” hosted by the ERCST in October 2021, this time ERCST aimed to encourage a discussion on the following questions:
Session 1

In a rapidly evolving context what are the main drivers of high gas and electricity prices and what is the outlook?

Session 2

How to make sure REPowerEU is able to conciliate the growing tension of keeping energy prices low, accelerating decarbonisation and guarantying need investments and security of supply?
What short term and long-term solutions could be effectively implemented to tackle the current energy crisis.

Final Agenda Cerame-Unie Slides Recording

Roundtable on Just Transition Framework
2022-04-19 14:00 - 15:45 UTC | online
As part of the Just Transition workstream, the ERCST team has decided to explore and put together a preliminary framework to assess the social impacts of the transition and provide guidance on how to develop a vision for a just transition that will, in turn, translate into concrete actions. The framework entailed mainly three parts: 1) the principles for a JT, 2) a set of indicators to measure the social impacts of the transition and 3) guidance on how to build a JT strategy based on the impacts analysis.
Acknowledging the fact that a just transition is not a fixed set of rules, this framework aims to provide guidance and support to assess the current situation and build a vision and a process for a Just Transition. With this work, ERCST helped the research and policy community to shape their agendas towards a fair and just transition.
The aim of the roundtable meeting is to initiate a discussion and gather your views on the initiative. During the roundtable, ERCST shared a presentation highlighting the existing principles, guidelines, frameworks, and tools for JT and then presented the ideas for the ERCST framework. Interventions from the Wuppertal Institute, EPRI and SEI followed, preparing the terrain to have an open discussion.
Agenda ERCST Publication

Informal Forum on Implementation of Article 6 of the Paris Agreement-April 2022
2022-04-20 - 2022-04-22
The dialogue aimed to create an informal atmosphere where the main objective is to explore, discover, explain and understand different points of view related to the issues in Article 6 of the Paris Agreement. That is, to understand the options available to define rules, modalities, and procedures on Article 6 of the Paris Agreement and the consequences of adopting each option.
This dialogue, by invitation only, intended to bring together 40 to 50 negotiators from around the world including Italy, Finland, Sweden, Norway, France, Germany, Japan, Switzerland, New Zealand, Australia etc.
Agenda

2022 State of the EU ETS Report - Launch
2022-04-26 14:00 - 16:00 UTC | University Foundation, Rue d’Egmont, 11, Brussels, 1000, Belgium
This was the launch event of the 2022 State of the EU ETS Report. During this event, the report was presented by the authors and discussed by commentators. This was the seventh annual report on the State of the EU ETS. The 2021 edition is available through this link.
The European Commission is required to annually assess, according to the EU ETS Directive, the functioning of the EU ETS and report back to the EU Parliament and Council. On 26 October 2021, the European Commission released its annual “Report on the functioning of the European carbon market”.
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 covered the 2022 Report. This edition reflected on the track record of the ETS in Phase III and first year of Phase IV, ahead of the upcoming negotiation process, its expected impact on the EU ETS, and the role the ETS is expected to play in the longer term.
Agenda ERCST Slides ERCST Publication

The International Dimension of Hydrogen
2022-04-27 14:00 - 16:00 UTC | ERCST, Rue Archimède 61, Bruxelles, 1000, Belgium
This workstream aims to bring together stakeholders, including policymakers and industry on a regular basis to discuss substantive issues around the topic of hydrogen, informed by original intellectual input from ERCST.
ERCST has accompanied EU institutions and stakeholders in the different stages of the hydrogen regulatory process, identifying missing pieces and shedding more light on issues that needed further clarification.
Now, after having focused on the EU hydrogen policy and regulatory sphere, this event launched ERCST research activities on the international dimension of hydrogen.
This meeting started with a presentation by ERCST, outlining some of the key aspects that shape the international dimension of hydrogen and that may have an impact on the EU hydrogen economy. ERCST presentation was followed by a panel discussion that intended to encourage a discussion on the following questions:

To what extent does the EU need to import hydrogen?
Do we endanger EU industry by supporting hydrogen production in third countries?
How will the landscape in terms of hydrogen global production look like in the future?
Should CBAM cover hydrogen imports? Why yes, why not.

Agenda ERCST Slides ERCST Publication

Designing Carbon Contracts for Difference
2022-04-28 10:00 - 12:00 UTC | ERCST, Rue Archimède 61, Bruxelles, 1000, Belgium
This workstream aims to bring together stakeholders, including policymakers and industry on a regular basis to discuss substantive issues around this topic, informed by original intellectual input from ERCST.
CCfDs are discussed as one of the most promising alternatives to foster the deployment of low-carbon industrial technologies. However, it is still uncertain how CCfDs can be part of the policy mix towards decarbonization.
This meeting started with a presentation by ERCST of the results of a survey carried out among relevant stakeholders aimed to:

Feel stakeholders’ pulse with regards to CCfDs’ rationale and purpose.
Provide further guidance on CCfDs’ key design and implementation features.

ERCST’s presentation also provided an overview of the vision outlined by several member states, with particular emphasis on Germany, France and the UK.
This was followed by a panel discussion geared towards assessing and commenting on the survey’s results.
Agenda ERCST Slides EC Slides Carbon Engineering Slides Agora Slides

2022 State of the EU ETS Report - Launch Webinar
2022-05-05 10:00 - 11:30 UTC | online
The 2022 State of the EU ETS Report is a joint effort between ERCST, BloombergNEF, the Wegener Centre for climate and global change at the University of Graz and EcoAct.
During this webinar the 2022 State of the EU ETS Report was presented by the authors and discussed by commentators. This will be the seventh annual report on the State of the EU ETS. The 2022 edition is available through this link.
The European Commission is required to annually assess, according to the EU ETS Directive, the functioning of the EU ETS and report back to the EU Parliament and Council. On 26 October 2021, the European Commission released its annual “Report on the functioning of the European carbon market”.
The annual “State of the EU ETS” Report aims to provide 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 webinar covered the 2022 Report. It reflected on the track record of the ETS in Phase III and first year of Phase IV, ahead of the upcoming negotiation process and its expected impact on the EU ETS, and the role the ETS is expected to play in the longer term.
Agenda Universität Hamburg Slides ERCST Publication Recording

CBAM Global Townhall 2022
2022-05-18 15:00 - 17:00 UTC
The European Commission has put forward a proposal for a Carbon Border Adjustment Mechanism (CBAM) which is the subject of ongoing discussions in the European Parliament and the Council. The lead committee on the CBAM in the European Parliament, ENVI, is voting on the final set of amendments on May 17th. This is a decisive moment for the CBAM on the European stage.
On the global stage, other countries have been reacting to these developments. Some have suggested that BCAs could be an essential element of “climate clubs”, acting both as a common tariff-like wall, and as incentive to join. Others have called for international agreement on principles and best practice. Consequently, the exact role of the CBAM on the international arena remains a subject of debate, even as the EU process moves forward.
No matter what the final shape and role of the CBAM, if it is to be successful, concerns about circumvention need to be allayed. This session, convened by ERCST on the basis of its extensive work on the EU CBAM, will bring together global thought leaders that have explore these critical aspects of CBAM/BCA, unpacking the proposals and considering the options.

ERCST’s work on border carbon adjustment in the EU is made possible by support from CEFIC, EBRD, EdF, Enel, Eurofer, Eurmetaux, ExxonMobil, Fertilizers Europe, the Government of France, the Government of Germany, and MetInvest

Agenda ERCST Slides ENVI vote ERCST Slides Circumvention Recording

State of the EU Green Deal, the climate dimension of REPowerEU
2022-05-19 14:00 - 16:00 UTC
This meeting was part of a series organized by ERCST on the European Green Deal, which started on 8 January 2020 right after the European Commission’s EGD was announced. This work stream aims to bring together policymakers and stakeholders on a regular basis to take stock of recent developments in the EGD framework.
The climate and environmental policies have had an increasing impact on the EU economy. Environmental and climate policies, by setting the trajectory of the energy transition, shape key components of the EU energy system.
During this meeting we assessed the ideas put forward by the Commission from the climate policy perspective, namely to what extent the measures outlined in the REPowerEU Communication represent the most cost efficient way to reduce emissions and meet the EU climate ambitions. We encouraged panelists to provide their views on the following questions:

Is the REPowerEU Communication coherent with the long-term EU climate ambition?
To what extent do the ideas outlined in the REPowerEU Communication represent the most cost-efficient way to reduce emissions?
What is the role nuclear energy or carbon removal technologies should play in decreasing dependency from Russia?

Agenda

EU-Turkey Climate Policy Dialogue: Policy Vision Roadmap for Civil Society
2022-05-24 09:00 - 14:00 UTC | Mövenpick Hotel, Mövenpick Hotel, Ankara, 06560, Turkey
This workshop is part of the project EU – Turkey Climate Policy Dialogue, financed by the European Union within the scope of the Civil Society Dialogue Programme between EU and Turkey, coordinated by the Directorate for EU Affairs.
The aim of this workshop is to present the Policy Vision Roadmap for Civil Society. The roadmap represents the outcome of the projects’ activities and dialogue between European and Turkish civil society which has been established during the past year.
The workshop began with a keynote speech by the Turkish authorities, after which a high-level overview of the climate policy developments in Turkey and the EU and the role of civil society in its development were provided by the invited experts.
These interventions set the floor for the main presentation of the Policy Vision Roadmap for Civil Society by the project team and the interactive panel discussion on the future and role of Civil Society in furthering climate policy. Finally, the moderator opened the floor for a roundtable discussion with other attendees.
Agenda ERCST Slides Policy Vision Roadmap EN Policy Vision Roadmap TR Recording

"Crunch issues" in the hydrogen and gas Directive
2022-05-30 15:00 - 17:00 UTC | online
This meeting intended to shed more light on some key issues in the, back then, proposed Hydrogen and Gas Directive. Namely: the definition for low carbon hydrogen, the regulatory principles for third-party access and the alignment of the proposal with the energy system integration strategy.
This meeting intended to have a substantive discussion on a number of issues:

How could the Directive help hydrogen to be used where is needed the most?

Is the proposed Directive aligned with the energy sector integration strategy?

How could the definition for low-carbon hydrogen be improved? In concrete:

What is the emissions’ scope and the fossil fuel comparator that should be used when defining low-carbon hydrogen?
How could Methane leakage be incorporated into the definition?

Does the proposed regulation on third-party access foster or hinder the development of a hydrogen economy in the EU?

What are the advantages and disadvantages of negotiated third party access until 2030?

Agenda ERCST Slides

Nuclear energy and gas in the EU Taxonomy
2022-06-20 14:00 - 16:00 UTC | ERCST, Rue Archimède 61, Bruxelles, 1000, Belgium
The EU Taxonomy was introduced in 2020 as a reporting tool. The declared goal of Taxonomy is to direct the flow of private capital to finance transition towards climate neutrality. It is a flagship project of the sustainable finance strategy adopted by the European Commission as a part of the European Green Deal.
The Taxonomy, being a product of the regulation – not of market participants – became a label provoking political tensions. Using this label to describe economic activities became a matter of principle, rather than a market instrument. The illustration of this phenomenon is the political debate about qualifying gas and nuclear energy as “sustainable” activities under the Taxonomy.
By July 2022, the European Parliament formally reacted to the Complementary Delegated Act (CDA) which, under some conditions, qualifies gas and the nuclear energy as “green” activities.
The panelists explored the subject-matter along those guiding questions:

How the geopolitical situation affects the role of gas and nuclear energy in the climate transition?
How the CDA will affect the access to finance for gas and nuclear energy projects?
Is there an impact on renewables?

Agenda ERCST Slides

Hydrogen and the RED Delegated Acts
2022-06-23 10:00 - 12:00 UTC | ERCST, Rue Archimède 61, Bruxelles, 1000, Belgium
On May 20th the European Commission published two delegated acts which are essential to complete the definition of RFNBOs (Renewable Fuels of Non-Biological Origin) and hence to determine the role renewable hydrogen will play in EU decarbonization. In concrete:

Delegated act on the methodology setting out the rules for the production of RFNBOs.
Delegated act on the methodology to assess the GHG emissions of RFNBOs and recycled carbon fuels.

The deadline to provide feedback to the proposals was opened until June 17th .
We therefore gathered a small group of experts to discuss the proposals from different angles and perspectives. We also assessed whether the delegated acts are coherent with the proposed regulatory framework in the Fit for 55 proposals and the Repower EU plan.
The meeting started with a presentation by ERCST where we presented our views on the topic and was followed by the contribution of three icebreakers and a substantive discussion with attendees.
Agenda ERCST Slides EUROFER Slides Slides Additionality ERCST Publication

Border Carbon Adjustment in the EU: Launch of Report on Indirect Emissions in the EU CBAM
2022-07-05 14:00 - 16:00 UTC
Since 2019, ERCST has built up solid experience on BCAs and carbon leakage issues in the EU context. The ERCST Team has accompanied the CBAM file from its earliest stages in the legislative process, providing analytical input to the discussion on BCAs and fostering an informed debate with domestic and international stakeholders.
One of the crunch issues identified by ERCST is the inclusion of indirect (scope 2) emissions in the scope of the CBAM. The Commission proposal only includes direct emissions under the CBAM, but the Parliament is backing the inclusion of indirect emissions from the start. With the Council supporting the Commission proposal, but qualifying onsite electricity production by manufacturers as direct emissions, the trilogue negotiations will have to resolve these inconsistencies.
At this event, the ERCST presented an analysis of the reasons which speak both for and against the inclusion of indirect emissions, as well as the strengths and weaknesses of the different options if indirect emissions are to be included.
Agenda ERCST Slides ERCST Publication Recording

ETS Revision for Phase IV. The EU ETS under trilogues
2022-09-13 10:30 - 12:00 UTC | ERCST Rue Archimède 61, Bruxelles, Rue Archimède 61, Bruxelles, 1000, Belgium
The ETS has emerged as the backbone of the EU Climate Action and, especially in the last two years, as a crucial driver of decarbonisation. The Commission proposal to review the EU ETS Directive aims at aligning the emissions pathway of the ETS sectors with the new EU climate targets. Throughout the next decade, the ETS is required to both enable a deep decarbonisation of the power sector and to tackle industry’s emissions, while avoiding carbon leakage.
The roundtable discussed key takeaways from the current EU ETS state of play and provided an opportunity to exchange views on the negotiation process. The presentation of the main elements of the EU ETS State of Play was followed by a 5-minute initial intervention per speaker, and by a discussion with relevant stakeholders intending to encourage a debate on the following questions:

Is setting a cap on carbon price an effective measure under the current context of high prices of electricity and gas?
What should be the role of compliant and non-compliant entities in the EU Carbon market?
What is your opinion about using the revenues from the EU ETS to finance RePower EU?
How do you foresee the extension of carbon pricing to road transport and building?

Agenda Recording

CBAM Global Townhall 2022 - Session 3: Carbon Clubs and International Cooperation on CBAM/BCAs
2022-09-13 16:00 - 18:00 UTC
On the global stage, countries have been reacting to the developments surrounding the EU CBAM, and we can expect to see some follow suit. Ideally, there would be international coordination of these emerging policies; they have high-stakes implications for international trade, international equity, and climate diplomacy. Some have suggested that BCAs could be an essential element of “climate clubs” or “climate alliances”, acting both as a common tariff-like wall, and as incentive to join. Others have called for international agreement on principles and best practice. Consequently, the exact role of the CBAM on the international arena remains a subject of debate, even as the EU process moves forward.
This session, convened by ERCST on the basis of its extensive work on the EU CBAM, brought together global thought leaders on international climate cooperation, CBAM, and climate clubs to discuss current developments and promising options moving forward.
Draft Agenda ERCST Slides Recording

The State of the European Green Deal: Quo vadis EGD?
2022-09-16 14:00 - 16:00 UTC | online
This meeting is part of a series of events organized by ERCST on the European Green Deal. This workstream aims to bring together policymakers and stakeholders on a regular basis to take stock of current developments in the EGD framework.
Since the the publication of the Fit for 55 proposals in July 2021, the legislative process is entering a crucial phase. The co-legislators advanced their positions on many key dossiers and are getting ready to enter the inter-institutional negotiations.
However, geopolitical developments led to modifications of the initial proposals which spilled over to the key EGD files as portrayed in the REPowerEU plan. On the other hand, the voting on some files in the European Parliament – for example on the EU ETS and on inclusion of nuclear energy and gas in the Taxonomy – or the negotiations in the EU Council show the polarisation of views and how complex these discussions are.
This meeting intended to assess those developments and whether the EU institutions are succeeding in striking the right balance between the economic, social and climate aspects of a successful and sustainable transition.
Agenda ERCST Slides

Hydrogen: State of play of the regulatory framework
2022-09-21 14:00 - 16:00 UTC | ERCST Rue Archimède 61, Bruxelles, Rue Archimède 61, Bruxelles, 1000, Belgium
This meeting intends to focus on key pieces of legislation (i.e. revision of the RED and the recently proposed RED Delegated Acts, the hydrogen and decarbonized gas market package, the EU ETS and CBAM).
This meeting will start with a presentation by ERCST, outlining some of the key developments in the hydrogen regulatory framework in the previous months as well as identifying missing pieces and addressing those elements where there is still room for improvement. ERCST presentation, which will include some recommendations for the policy maker, will be followed by a panel discussion where speakers are expected to address the following questions. (5-7 mins per speaker):

Is the proposed regulatory framework ready to at the same time deliver the ramp-up of the EU H2 economy and respond to the current energy crisis?
Does the proposed regulatory framework foster the competitiveness of the EU hydrogen economy Vis-à-vis third countries such as the USA?
What is missing and what could be improved?

Agenda ERCST Slides

EU Energy Transition with Energy Security
2022-09-21 16:00 - 17:30 UTC | Residence Palace, Wetstraat 155, Bruxelles, 1040, Belgium
This event offered an opportunity to discuss and debate how to address two critical issues for future European prosperity: the transition to a clean energy matrix and energy security.
With the European Green Deal and the RePower EU packages providing the vision of a green EU economy, and the Fit for 55 package entering the trilogue phase of the legislative process, the EU is currently experiencing energy scarcity and high energy prices.
This has already sparked a strong debate on the ways and means necessary to ensure that this transition is sustainable, and that the three dimensions of sustainable development, economic, environment and social, evolve in a harmonious way.
Agenda Recording

Border Carbon Adjustment in the EU: Launch of Report on International Cooperation on BCAs/CBAM
2022-09-28 15:00 - 17:00 UTC
One of the crunch issues in the debate on the EU CBAM is the question of international cooperation on and around the CBAM. A prominent feature here are proposals of forming a carbon club or carbon alliance of countries implementing carbon pricing. In this scenario, a BCA could act as an incentive to other countries to join. But suggestions for other forms of carbon clubs or international cooperation have been made as well, with an emphasis on inclusivity and mutual aid.
In view of the upcoming COP27 in in Sharm el-Sheikh, the ERCST Team presented its report on international cooperation around the CBAM and discussed its analysis with experts.
Agenda ERCST Slides Recording ERCST Report

Green bonds – State of play. What is in it for transition?
2022-09-29 10:00 - 12:00 UTC | ERCST, Rue Archimède 61, Bruxelles, 1000, Belgium
The Green Bond Standard is the flagship financial instrument incorporating the EU Taxonomy. After the Council and the European Parliament adopted their positions, its status is entering a new phase, the inter-institutional negotiations. It is a good moment to take stock of the different policy aspects related to green bonds: relation with the Taxonomy, the skyrocketing demand for “sustainable” bonds and their role in financing the transition of businesses.
The linkage of the EU green bonds standards with the Taxonomy caused political turbulences reflecting its controversial nature and difficult discussion over the inclusion of gas and nuclear energy into the Taxonomy. This was the reason behind the opposition of some Member States and MEPs to the new green bonds standard. Another source of controversy is the degree of alignment with the Taxonomy and the overall level of requirements. The Council allowed a 20% pocket for non-Taxonomy-related investments. The European Parliament wants much stricter rules applicable to the EU green bond standard, including restrictions for doing business in tax havens. These negotiations reflect the need to find a balance between the desire to create the golden standard of the highest purity and the instrument of business reality.
This event aimed at taking stock of the EU Green Bonds initiative and identifying the challenges and opportunities related to this instrument in the context of financing the transition.
Agenda ERCST Slides ERCST Publication
