REKK Regional Energy Policy ForumThe Future of Carbon Pricing
An effective pricing mechanism for carbon is fundamental to achieving the 1.5°C goal outlined by the Paris Agreement. The European Commission’s Emissions Trading Scheme (EU ETS) has set a precedent worldwide but has also faced some criticisms. The Commission proposal for a revised ETS directive is expected by June 2021, along with proposals for the revision of other key EU climate legislation.
At the online webinar we discuss with EU representatives, member states’ governments and academia about the future of carbon pricing. In the morning session we focus on the impacts of a possible extension of the EU ETS, both as regards the sectors covered and its geographical outreach. We address also advantages and challenges of a Border Carbon Adjustment (BCA) mechanism. In the afternoon session we analyse which factors will drive future carbon prices and have a look at possible reforms of the carbon market, taking a look at global carbon schemes as well.
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Morning session – Expanding ETS – sectoral and geographical extension
- 9:50 – 10:00 Participant Login
- 10:00 – 10:10 Welcome by László Szabó, Director of REKK
- 10:10 – 10:30 The European Union’s climate targets and the Hungarian standpoint, Barbara Botos, Deputy Secretary of State for Climate Policy, Hungarian Ministry for Innovation and Technology (ITM)
- 10:30 – 10:45 The EU ETS – forthcoming changes to stringency and scope – Peter Vis, Senior Research Associate, EUI
- 10:45 – 11:00 The impacts of sectoral enlargement of EU ETS – Michael Grubb, Professor of Energy and Climate Change at University College London
- 11:00 – 11:15 Geographical expansion: BCA or ETS? – András Mezősi, senior research associate, REKK
- 11:15 – 12:00 Panel discussion Moderator: László Szabó, director, REKK, Participants: Barbara Botos (ITM), Peter Vis (EUI), Michael Grubb (University College London), András Mezősi (REKK)
- 12:00 – 12:15 Questions and answers + Closing remarks
Afternoon session – The future of carbon pricing
- 13:50 – 14:00 Participant Login
- 14:00 – 14:10 Opening and welcome by László Szabó, Director of REKK
- 14:10 – 14:30 Keynote speech by László Varró, Chief Economist of IEA
- 14:30 – 14:45 State and trends of carbon pricing worldwide – Marissa Santikarn, climate change specialist at the World Bank
- 14:45 – 15:00 What drives the ETS prices in the post 2020 period? – Espen Andreassen, Head of the Long-term Reports at Volue Insight
- 15:00 – 15:15 Border Carbon Adjustment Mechanism: Karsten Neuhoff, Head of Climate Policy Department at the German Institute for Economic Research (DIW Berlin)
- 15:15 – 16:00 Panel discussion
- Moderator: László Szabó, director, REKK
- Participants: László Varró (IEA), Marissa Santikarn (World Bank), Karsten Neuhoff (DIW)
- 16:00 – 16:15 Questions and answers + Closing remarks