This opinion will provide the civil society perspective on the Carbon Border Adjustment Mechanism. The main purposes of the Carbon Border Adjustment Mechanism (CBAM) would be to discourage EU businesses from moving their production to countries with less ambitious climate change policies (carbon leakage) and to encourage a global move towards net zero carbon emissions by 2050 in line with the Paris Agreement.
European Climate Pact (Exploratory opinion) - Related Opinions
The EU ETS was launched in 2005 and covers about 45 % of EU greenhouse gas emissions. The latest revision of the EU ETS Directive, adopted in 2018, sets the total quantity of emission allowances for phase 4 (2021-2030), in line with what was the current EU emission reduction target at the time (40 % reduction below 1990 levels by 2030).
The European Green Deal announced that to protect Europe’s citizens and ecosystems, the EU needs to move towards a zero pollution ambition, and better prevent and remedy pollution from air, water, soil, and consumer products.
The EESC underscores the potential key role of the Sustainable Finance Taxonomy Delegated Regulation in creating a clear, coherent and comprehensive framework to highlight the ambitious development of a greener economy without lock-in effects. The taxonomy should build on technical criteria that clearly define the green investments that directly contribute to Europe's climate objectives.
This opinion will look into the possibilities to engage with young people in a formal way at institutional level and provide the building blocks for a new structured approach to youth engagement at EU level.
The transition to a low-carbon economy is the EU's goal and obligation and the EU committed itself to implement this transition in a socially just and cost-effective manner. It is thus important to examine all the feasible ways of financing climate neutrality, and possibly find new and innovative financing models in the near future.
The EESC is currently drafting an opinion that aims to define what "the sustainable economy we need" should look like by exploring new economic models, investment decisions vis-à-vis technological advances as well as novel indicators for growth and competitiveness.
The proposed opinion will look at new approaches to more fairly distributing the burden of transformation towards a sustainable Europe.