The EU ETS constitutes the cornerstone of European climate policy and forms the basis of neighbouring ETSs to facilitate potential future linkage. It is critically important to preserve the system’s continued success and ensure it can deliver on its purpose, reducing emissions in the most cost-effective way.

We do not believe that it is worth jeopardising Europe’s future decarbonisation by limiting the role of financial actors in the market. We call on policymakers to first find agreement on the problem we are trying to solve. It is important now to wait for ESMA’s forthcoming report, which should be the basis for this discussion.