Local view for "http://purl.org/linkedpolitics/eu/plenary/2015-07-07-Speech-2-710-000"
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"en.20150707.40.2-710-000"2
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"Madam President, the EU emissions trading scheme is the cornerstone of the European Union’s policy to combat climate change and covers around 45% of the EU’s greenhouse gas emissions. However, the current EU ETS is flawed, as it fails to address problems of oversupply of allowances in the market, which enable the industry to emit greenhouse gases. It is crucial that we take action to repair the ETS and turn it into a mechanism that both controls emissions and promotes investment in clean technologies such as renewables. We need to give stability and predictability to the EU ETS in order both to achieve our climate objectives and to give more stability to industry.
I believe the market stability reserve is the right instrument to achieve stability in the market. It has been the position of the S&D to support its introduction as soon as possible by transferring carbon allowances to the market stability reserves in times of over-supply and releasing them in times of under-supply. The EU ETS will be more flexible and more stable and therefore better placed to achieve our climate goals. We must have a balanced system that will benefit our industries and enable a transition to a sustainable and green economy in Europe, which will provide a model for other countries worldwide. We as Europeans owe this to our citizens, our industries and future generations."@en1
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