Christian Kullmann, the chief executive of Evonik, is changing his position on the EU Emissions Trading System. In late November he urged the European Commission to either abolish the ETS or overhaul it drastically. Now, in a joint guest article for the Wednesday issue of Handelsblatt, he writes alongside German MEP Peter Liese (CDU) that the debate over the ETS can no longer be framed ideologically. “Some want to scrap it or radically rebuild it. We say we must act pragmatically now and reach smart compromises” Kullmann says.
On Wednesday, the Commission will unveil its first set of reform proposals. According to Commission officials quoted by Handelsblatt, Brussels will accommodate the chemical industry as far as possible by adjusting benchmarks. The EU will also drop plans to delete certificates from the Market Stability Reserve without replacement.
