How will the new Market Stability Reserve system affect the functioning of the European Union Emission Trading System (ETS)? Is the new Market Stability Reserve (MSR) sufficient for achieving the 1.5 degree target? How are overlapping domestic policies expected to affect EU wide emissions with the new MSR?
Since the start of 2019 the EU ETS has operated with a new Market Stability Reserve system. Based on new research papers from Prof. Dr. Grischa Perino (University of Hamburg) and Prof. Dr. Peter Birch Sørensen (University of Copenhagen and CESifo, former chairman of the Danish Council on Climate Change) the new system alters our previous knowledge on what would be the impacts of overlapping domestic climate policies in ETS sectors.
Therefore, Sitra has invited three top economics professors to tell more about their latest research results on the functioning of the EU ETS with the new MSR – and the best ways to decrease emissions in the ETS sectors along the 1.5 degree target. The seminar will take place in Sitra (address: Itämerenkatu 11-13, Helsinki) on Wednesday, February 20th, at 12.30 – 16.00 (+drinks 16:00-17:30).
In addition to presentations by professors Perino and Sørensen, Prof. Dr. Herman Vollebergh (Tilburg University and PBL Netherlands Environmental Assessment Agency) will share his views on the topics of ETS functioning and the effectiveness of overlapping domestic policies. He will also provide more information on the latest plans to implement a price floor to the ETS sectors in the Netherlands.