Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-04-24-Speech-4-012"
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"en.20080424.5.4-012"2
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"Mr President, Ms Ferreira has produced an excellent and balanced response to the Commission’s Green Paper on market-based instruments for environmental purposes, and as draftsman of the Committee on Economic and Monetary Affairs’ opinion under the enhanced cooperation procedure, I am very pleased that we have been able to collaborate with Ms Ferreira and contribute significantly to this report.
In our view, the emissions trading scheme (ETS) is the most cost-efficient, demand-sensitive and objective market-based instrument available for actually reaching the EU’s greenhouse gas emissions reduction target of 20% by the year 2020. The ETS should be the cornerstone of the market-based instruments mix, and I welcome the Commission’s proposals to improve and expand it. The scheme should have a progressively tightening cap designed to reach that 20% objective in 2020. It should also be spread as widely as possible among significant emitters.
Auctioning should be the main means of allocating emissions targets, in order to avoid the disadvantages for competition of grandfathering. Auctioning is more economically efficient. It encourages new entrants, innovation and technological and operational improvements.
Madam Commissioner, I particularly stress that we feel that energy taxation, indeed taxes and subsidies in general, should remain only a very secondary and complementary greenhouse gas reduction tool for these emissions that cannot be covered directly or indirectly by the Emissions Trading Scheme. For this reason, we find paragraph 26 of the report inconsistent with the overall message of giving priority to the Emissions Trading Scheme.
Finally, the Commission must urgently negotiate reciprocal agreements with other jurisdictions. Mutual and equivalent international commitments covering sectors that are vulnerable to competition would be greatly preferable to the adoption of border tax adjustments to offset trade distortions."@en1
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