The European Commission is considering including international carbon credits in its July review of the Emissions Trading System, according to the EU climate chief.
Speaking at the POLITICO Energy & Climate Forum in Brussels on Monday, Climate Commissioner Wopke Hoekstra said his office is on schedule to release its review of Europe’s flagship cap-and-trade regime in just over a month.
The inclusion of carbon credits from foreign jurisdictions, Hoekstra explained, could be part of allowing more allowances into the “2040 framework” especially from countries in emerging markets.
“[The] other thing that is important to mention is that in terms of the scope and in terms of the things you could include, we have already taken the very deliberate choice to seek to build bridges with our friends from particularly the Global South,” Hoekstra said, adding they “will be looking” at including international credits in the review.
