IOGP position on the revision of the EU Emissions Trading System (EU ETS) Directive

This document provides IOGP’s response to the EU public consultation on the revision of the EU Emissions Trading System (EU ETS) Directive.

IOGP welcomes the Commission’s proposal to mandate Member States to use 100% of their EU ETS revenues for climate related purposes and to further strengthen the Innovation Fund and the Modernization Fund – crucial steps to scaling up low-carbon technologies needed for industrial decarbonization and to enable necessary investments in the transformation process.

• Recognizing the advantages and versatility of natural gas in the context of the Modernization Fund
• Need for increased and effective carbon leakage protection
• Longer term convergence to a uniform cost of carbon