5 Amendments of Vladko Todorov PANAYOTOV related to 2012/0202(COD)
Amendment 33 #
Proposal for a decision
Recital 1 a (new)
Recital 1 a (new)
(1a) Article 1 of Directive 2003/87/EC states that the purpose of the emissions trading scheme is to promote reductions of greenhouse gas emissions in a cost- effective and economically efficient manner.
Amendment 46 #
Proposal for a decision
Recital 2 a (new)
Recital 2 a (new)
(2a) Emission reductions under Directive 2003/87/EC are guaranteed by the cap on the supply of allowances which is set to fall at 1,74% per year, regardless of the carbon price.
Amendment 57 #
Proposal for a decision
Recital 3 a (new)
Recital 3 a (new)
(3a) Carbon capture and storage (CCS) technologies and the development of some renewable energy sources are currently expensive and their cost-effective, affordable deployment will depend on the further development of those technologies. Reform of the emissions trading scheme should be directed towards incentivising efficiently and thus securing the necessary investments in research and development in order to bring low-carbon technologies to the market.
Amendment 60 #
Proposal for a decision
Recital 3 b (new)
Recital 3 b (new)
(3b) Any measures to reform the scheme should be designed to build confidence in the long-term stability of the emissions cap and trading system while allowing the market to determine the price at which allowances trade; there should be provisions and measures to ensure that direct revenues raised from the auctioning of allowances are invested into research to make low carbon technology cheaper.
Amendment 73 #
Proposal for a decision
Article 1 a (new)
Article 1 a (new)
Article 1a The Commission shall, where appropriate, bring forward a revised proposal with the objective of: (a) amending Article 9 of Directive 2003/87/EC to make it clear that the linear reduction factor of 1,74% per year will continue after 2020. An impact assessment of the different options and across economic sectors and business scenarios shall be carried out and if necessary, a further tightening of the system shall be considered in order to achieve the long-term EU decarbonisation goals by 2050 and beyond. The state of the international carbon market and the carbon leakage issue shall be taken into account in this review; (b) amending Article 10 of Directive 2003/87/EC to introduce an “ex post” mechanism in the system in which the issuing of allowances under the cap will be adjusted by taking into account the level of activity at each stage of the economic cycle. The proposals shall envisage a “carbon bank” into which surplus allowances can be deposited and from which those allowances can be released. In the event of such a "carbon bank" being established, clear rules shall be provided regarding the circumstances in which allowances must be deposited and released; (c) amending Article 10(3) of Directive 2003/87/EC to ensure that all the revenues raised from the auctioning of allowances are directed towards investments in research and development of low carbon technologies.