MEP Gerbrandy reacts to vote Market Stability Reserve (MSR) - Main contents

Today, the European Parliament backed in a plenary vote the Market Stability Reserve (MSR), a reform proposal for the EU´s emissions trading system (ETS).

Member of the European Parliament Gerben-Jan Gerbrandy, shadow rapporteur on the MSR for ALDE, responds:

"Today’s vote truly strengthens the carbon market and will gradually put an end to the surpluses that have paralysed the carbon market over the last years. Importantly, industrial innovation will get a boost thanks to new funds for low-carbon industry projects."

"But the carbon market is not yet ready to deliver the EU´s carbon targets for 2030. The European Commission proposal, expected by 15 July, should include measures that truly reward clean technology investments and a well-focused approach for a competitive and efficient industry."

The European Commission is expected to published a proposal to revise the EU's Emissions Trading System Directive by 15 July, including new rules for free allocation to industries potentially exposed to carbon leakage, the modernisation of the energy sector in Central and Eastern Europe and the use of innovation funds for CCS, industry and renewable energy projects.