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 in July 2021, along with proposals for the revision of other key EU climate legislation.

At the online webinar we discussed with our distinguished speakers about the future of carbon pricing. In the morning session we focused on the impacts of a possible extension of the EU ETS, both as regards the sectors covered and its geographical outreach. We addressed also advantages and challenges of a Carbon Border Adjustment Mechanism (CBAM). In the afternoon session we analysed which factors will drive future carbon prices and had a look at possible reforms of the carbon market, and global carbon schemes as well.

Speakers:

• Barbara Botos, Deputy Secretary of State for Climate Policy, Hungarian Ministry for Innovation and Technology
• Tom Howes, Head of Energy and Environment Division, IEA

• Espen Andreassen, Head of the Long-term Reports at Volue Insight

• Michael Grubb, Professor of Energy and Climate Change at University College London

• András Mezősi, Senior Research Associate, REKK
• Karsten Neuhoff, Head of Climate Policy Department at the German Institute for Economic Research (DIW Berlin)

• Marissa Santikarn, Climate Change Specialist at World Bank

• Peter Vis, Senior Research Associate, European University Institute