The CDU Economic Council has voiced strong criticism regarding the European Commission’s plans to overhaul the Emissions Trading System (ETS). Astrid Hamker, the Council’s president, told the “Redaktionsnetzwerk Deutschland” that the revenues generated from emissions trading must be consistently reinvested into the companies that are undergoing the transformation.
Hamker strongly opposed the view that Federal Finance Minister Lars Klingbeil (SPD) is increasingly using ETS revenues to fill budget gaps, characterizing such a move as a misuse of funds.
The EU is scheduled to publicly present its proposed reforms to the ETS this Friday, which reportedly include provisions for a less restrictive use of the ETS revenues. However, the German Federal Cabinet recently decided that instead of transferring all CO2 trade money exclusively to the “Climate and Transformation Fund” (KTF) as previously done, a portion would be allocated to finance the core federal budget.
Hamker emphasized that a system must support both climate protection and competitiveness. She stated, “Those who place higher CO2 costs on businesses should also make the resulting revenue available for investments in climate-neutral production processes and innovative technologies.”
