20
May
2026
Watch
Reviewing the ETS system to support European competitiveness (topical debate)
Madam President, thank you very much. Commissioner, thank you very much. Emissions trading system ETS is the most cost-effective tool we have to achieve our climate goals and now some want to weaken it. But let's be clear. If we lower the level of ambition in the ETS, emissions will not disappear. They're just moving. Instead, the zero ends up in some other sector, the agricultural sector, the transport sector. It will be more expensive to buy food. It will be more expensive to drive the car to work. This is not a realistic climate policy. Just move the problem. And let us not forget the security dimension either. The situation in the Strait of Hormuz is a reminder. Our dependence on fossil energy is not only a climate issue, it also has a security dimension. Every step away from domestic, clean energy is a step towards greater exposure. Companies across Europe have made huge investments in green steel and in clean industry. They have invested in reducing the cost of emissions and ensuring that we can continue to have a competitive industry in Europe. If we pull the carpet away, we risk knocking out Europe's brave forerunners. The very companies that prove that the transition is actually possible. If even the bravest entrepreneurs no longer see a business idea? What message does it send to all those who have not yet dared to bet? We need to maintain our credibility. It's at stake. We need to cut emissions and boost growth. And to solve that equation, we need to stay on course and keep the emissions trading system.