What goes on in Poland on the 9th of June.
The coalition gathered by Poles demands greater compensation for the tightened climate policy
The Polish Energy Group (PGE) and seven other entities from eight Member States are in favor of greater compensation for the EU climate policy, which is more stringent thanks to the climate law. The initiative of Poles for the first time gathered such support.
PGE was the initiator of the position supported by the Energy Management Institute, Electricity Authority of Cyprus (Cyprus), HEP (Croatia), Assiociation for District Heating (Czech Republic), ETL (Estonia), Oltenia (Romania) and MVM Group (Hungary). The signatories call for compensation for the climate policy, which, according to the so-called climate law will be tightened by raising the CO2 reduction target to 55 percent in 2030. In their opinion, significant investments necessary to achieve this goal should be taken into account by the European Commission.
– Successful implementation of climate law requires a proportional increase in the mechanisms of offsetting the EU ETS emissions trading system to support the energy sector of the Member States with low GDP per capita in its efforts to achieve the elevated climate goal – reads the position. – Climate law should specify that the Modernization Fund under the EU ETS should be increased in proportion to the climate ambitions raised. The Solidarity Mechanism containing the pool of emission allowances should be extended with additional permits enabling new investments in the countries covered by it.