During the EP plenary session (5-8 February 2018) in Strasbourg, MEPs debate (05/02) and vote a law to strengthen greenhouse gas emission curbs via the EU Emissions Trading System (ETS), so as to begin delivering on Paris climate accord pledges. To promote low-carbon innovation, the law would also establish a “modernisation fund” and an “innovation fund” to support renewable energy, carbon capture and storage and low-carbon innovation projects. Statements by Julie GIRLING (ECR, UK), Rapporteur, and Miguel ARIAS CAÑETE, Member of the EC in charge of Climate Action and Energy. The results from the vote are: 535 in favour, 104 against and 39 abstentions. Illustrative shots

Strasbourg

debate

plenary session

vote

renewable energy (T)

European Union Emissions Trading System (T)

industrial emissions (T)

Cost-effective emission reductions and low-carbon investments: extracts from the vote, extracts from the debate (05/02) and illustrative shots

SOUNDBITE (English), Julie GIRLING (ECR, UK), Rapporteur, <p>We tackled many problems; from a carbon price that was clearly too low to make the market function, the extremely difficult issue of balancing between our environmental ambition and the protection of energy intensive European industry, this si always open, we're always discussing it; But it remains a system operating in 31 countries. The rest of the world has been disappointingly slow to catch up sometimes, but now we have some momentum going. We have the recent agreement with Switzerland, we have President TRUMP to thank for the call to action in the US, which has meant some ambitious plans in California, the tie-up with Ontario and indeed even China.</p>

SOUNDBITE (English), Julie GIRLING (ECR, UK), Rapporteur, I don't intend to list all the final conclusions of the deal, just a couple of highlights for me: the 2023 review and that's in line with the global stocktake at the Paris agreement and this review will include a possible increase in the 2.2% linear reduction Factor. I think this is a major achievement. secondly, the substantial withdrawal of excess allowances from the system, thirdly the so called Duncan mechanism in tribute to the rapporteur who preceded me I think we should now call it the Lord Duncan mechanism. This comes in if the cross-sector correction Factor is applied if it's not needed then additional funds go to the innovation fund and the modernisation fund we have changes to benchmarks and carbon leakage lists offering a fine balance between carbon leakage protection and ambition.

SOUNDBITE (English), Miguel ARIAS CA&#209;ETE, Member of the EC in charge of Climate Action and Energy, The EU ETS remains the most important instrument to realise our ambition of at least 40% reduction of greenhouse gas emissions by 2030 within European Union. With a political agreement reached in early November last year we can proudly show to our citizens, that the the European Union is delivering, and turning political words into legal commitments.

SOUNDBITE (English), Miguel ARIAS CA&Ntilde;ETE, Member of the EC in charge of Climate Action and Energy, the agreement required compromise from all parties. It strikes a proper balance between strengthening the European Union carbon market and incentivising industry to the de-carbonise with innovative Solutions and renewable energy while being mindful of a specific challenges of lower income member states in particular regarding the modernization of the energy systems.

<p>Opening of the vote, members voting, and conclusion of the first reading (4 shots). (The text was approved by 535 votes to 104, with 39 abstentions.)</p>