EURELECTRIC reiterates its call for a robust climate change agreement promoting the role of market mechanisms

With a few days to go before the start of the UN Climate Change Conference in Paris, EURELECTRIC reiterates its call for the Paris Conference to deliver an agreement for an ambitious and rules based global climate change regime resulting in a stable, predictable and ambitious framework for policy and action. The European electricity sector strongly believes that decarbonisation is essential to guarantee the long-term sustainability of the global economy and is committed to leading this transition.

“A global, legally binding agreement would provide the clearest signal to governments, businesses and the general public of the global commitment to fighting climate change,” said EURELECTRIC Secretary General Hans ten Berge. “We need a robust climate change regime which considers national commitments in a dynamic way, reflecting the fact that national ambitions and commitments should be further strengthened as climate policies and technological advances create new and innovative opportunities for low carbon development. In its ability and commitment to take concrete action to become carbon‐neutral by 2050, the European electricity industry can lead the drive to decarbonise Europe.”

Last September EURELECTRIC published a position paper in which it called for long term global action to tackle climate change and proposed 5 key recommendations for a successful outcome of the international climate change negotiations:

1. A global legally binding agreement demonstrating clear commitment from all Parties to sustained long term action to fight climate change, including a dynamic review process with a view to keeping the 2°C objective within reach, which …
2. … delivers a climate change regime, comprising stable policies and measures, that provides a clear signal to investors for mobilising investments in low carbon technologies;
3. … ensures long term certainty to governments and investors; and therefore includes measuring, reporting and verification (MRV) obligations for all Parties, based on common rules;
4. … promotes the important role of market based mechanisms including carbon markets and carbon pricing;
5. … puts us on a path to a sustainable and climate resilient future through tangible climate finance for mitigation and adaptation support to developing countries.

In its paper, EURELECTRIC stressed that market based mechanisms, such as carbon markets, are the most effective tool for mitigating greenhouse gas emissions and stimulating investments in low carbon technologies and energy efficiency. “The most effective way forward in the smooth transition towards a low-carbon economy is through a clear, predictable carbon price signal that will allow industry to invest in an efficient and sustainable manner. Therefore the importance of carbon markets should be anchored in the new climate change regime with a view to enabling the development of a global carbon market in the longer term,” said Hans ten Berge.

During the Paris Conference, EURELECTRIC is co-hosting a side-event together with UFE and Electriciens sans Frontières, which will debate the role of low carbon electricity in the fight against climate change.  The event will take place on 1 December (11:30 - 13:00) in the UN Blue-Zone. The programme for this event can be downloaded here.