Activities of Alberto CIRIO related to 2014/0011(COD)
Plenary speeches (1)
Market stability reserve for the Union greenhouse gas emission trading scheme (A8-0029/2015 - Ivo Belet) IT
Amendments (11)
Amendment 30 #
Proposal for a decision
Recital 2
Recital 2
(2) The report from the Commission to the European Parliament and the Council on the state of the European carbon market in 21027 identified the need for measures in order to tackle structural supply-demand imbalances. The impact assessment on the 2030 climate and energy policy framework8 indicates that this imbalance is expected to continue, and would not be sufficiently addressed by adapting the linear trajectory to a more stringent target within this framework. A change in the linear factor only changes gradually the cap. Accordingly, the surplus would also only gradually decline, such that the market would have to continue to operate for more than a decade with a surplus of around 2 billion allowances or more. In order to address this problem and to make the European Emission Trading System more resilient to imbalances, a market stability reserve should be established. To ensure regulatory certainty as regards auction supply in phase 3 and allow for some lead-time adjusting to the introduction of the design change, the market stability reserve should be established as of phase 4 starting in 2021. In order to preserve a maximum degree of predictability, clear rules should be set for placing allowances into the reserve and releasing them from the reserve. Where the conditions are met, beginning in 2021, allowances corresponding to 12% of the number of allowances in circulation inat the end of year x-21 should be put into the reserve. A corresponding number of allowances should be released from the reserve when the total number of allowances in circulation is lower than 4800 million. __________________ 7 8COM(2012)652 final. COM(2012)652 final. 8 Insert reference. Insert reference.
Amendment 51 #
Proposal for a decision
Recital 3 a (new)
Recital 3 a (new)
(3a) The European Parliament in its resolution of 4 February 2014 on the Action Plan for a competitive and sustainable steel industry in Europe stressed that "the application of the cross- sectoral correction factor, which demonstrates that for industry the target is not achievable even with the best available technologies currently applied in Europe, with the result that even the most efficient installations in Europe may have additional costs". In order to avoid a dilution of the provisions of Article 10a of Directive 2003/87/EC, the application of the uniform cross-sectoral reduction factor should be suspended.
Amendment 82 #
Proposal for a decision
Recital 5 a (new)
Recital 5 a (new)
Amendment 83 #
Proposal for a decision
Recital 5 b (new)
Recital 5 b (new)
(5b) The Commission Communication on Regulatory Fitness and Performance Programme (REFIT): State of Play and Outlook states "The challenge is to keep this legislation simple - not to go beyond what is strictly necessary to achieve policy goals and to avoid overlapping layers of regulation". Thus the Commission should ensure that measures within the ETS do not contradict each other.
Amendment 127 #
Proposal for a decision
Article 1 – paragraph 3
Article 1 – paragraph 3
3. In each year beginning in 2021, if the total number of allowances in circulation is higher than 1300 MtCO2, a number of allowances equal to 1233% of the difference between the total number of allowances in circulation in year x-21 and the lower threshold of 800 Mt, as published in May year x-1, shall be placed in the reserve, unless this number of allowances to be placed in the reserve would be less than 100 million.
Amendment 128 #
Proposal for a decision
Article 1 – paragraph 3
Article 1 – paragraph 3
3. InOn 30 June of each year beginning in 2021, a number of allowances equal to 12% of the total number of allowances in circulation inat the end of year x-21, as published in May year x-1, shall be placed in the reserve, unless this number of allowances to be placed in the reserve would be less than 100 million.
Amendment 141 #
Proposal for a decision
Article 1 – paragraph 4
Article 1 – paragraph 4
4. In any year, if the total number of allowances in circulation is lower than 4800 million, 100 million allowancesallowances corresponding to 33% of the difference between the total number of allowances in circulation in year x-1 and the higher threshold of 1300 Mt shall be released from the reserve. In case less than 100 million allowances are in the reserve, all allowances in the reserve shall be released under this paragraph.
Amendment 145 #
Proposal for a decision
Article 1 – paragraph 5
Article 1 – paragraph 5
Amendment 152 #
Proposal for a decision
Article 1 – paragraph 5 a (new)
Article 1 – paragraph 5 a (new)
5a. To allow action pursuant to paragraphs 3 and 4, Commission Regulation (EC) No 1031/20101a shall be amended adequately in order to adapt the auctioning calendar taking into account the need for the market stability reserve to function. ______________ 1a Commission Regulation (EU) No 1031/2010 of 12 November 2010 on the timing, administration and other aspects of auctioning of greenhouse gas emission allowances pursuant to Directive 2003/87/EC of the European Parliament and of the Council establishing a scheme for greenhouse gas emission allowances trading within the Community (OJ L 302, 18.11.2010, p. 1).
Amendment 186 #
Proposal for a decision
Article 2 – paragraph 1 – point 3 h (new)
Article 2 – paragraph 1 – point 3 h (new)
Directive 2003/87/EC
Article 10 – paragraph 5
Article 10 – paragraph 5
3h. Article 10(5) is replaced by the following: 5. The Commission shall monitor the functioning of the European carbon market. Each year, it shall submit a report to the European Parliament and to the Council on the functioning of the carbon market including the implementation of the auctions, liquidity and the volumes traded. If necessary, the market stability reserve shall be used to compensate for any amount of allowances exceeding the threshold defined in the points (a) and (b). Member States shall ensure that any relevant information is submitted to the Commission at least two months before the Commission adopts the report.
Amendment 214 #
Proposal for a decision
Article 3 – paragraph 1
Article 3 – paragraph 1
By 31 December 2026, the Commission shall on the basis of an analysis of the orderly functioning of the European carbon market review the market stability reserve (including its possible impact on carbon leakage also on indirect costs, the effect on industrial competitiveness and on the encouragement of cost-efficient measures under the ETS) and submit a proposal, where appropriate, to the European Parliament and to the Council. The review shall pay particular attention to the percentage figure for the determination of the number of allowances to be placed into the reserve according to Article 1(3) and the numerical value of the threshold for the total number of allowances in circulation set by Article 1(4).