Twenty years of EU ETS: looking back, looking ahead

• Florence School of Transnational Governance
• STG Climate

Session as part of the EUI Climate Week 2025.

Some observers claim that the liquidity in the EU ETS will decline significantly as of 2035, and hence may be subject to more price volatility. Several options have been suggested to mitigate this risk including allowing certified removal credits. Some suggested as well the creation of a kind of liquidity management in the EU ETS, comparable to the role of central banks. Obviously, all options need to be designed with full respect of the climate targets. The EU ETS may be strengthened while benefitting from more flexibility.

Chair: Peter Vis, Senior Adviser, Rud Pedersen Public Affairs

Speakers:

• Michael Pahle, Head of working group climate & energy policy, PIK
• Robert Jeszke, CEO, The National Centre for Emissions Management (KOBiZE)
• Ingvild Sørhus, Manager EU Carbon Analysis, Veyt
• Antoine Dechezlepretre, Senior Economist, OECD

Conclusion: Beatriz Yordi, Director, Carbon Markets and Clean Mobility (CLIMA.B), DG CLIMA, European Commission

Participation in this event is by invitation only and all deliberations will take place under the Chatham House rule (no views or positions may be attributed publicly to any participant).

More information and the full programme of the EUI Climate Week 2025 can be found here.