The Open Society Foundations

EU ETS

What is EU ETS?

EU Emissions trading system (ETS) is the centerpiece of EU climate policy. Foundation BFPE for a Responsible Society from its inception advocates for Serbia and WB integration in the EU ETS, by putting a strong emphasis on the essential element, free allocation of EU allowances to be used for the modernization of power generation. That may become a very important part of the Growth Agenda for Western Balkan, enhance the Green Agenda for Western Balkans and strengthen EU accession process while providing ground for further extension of the Energy Community Treaty. As a part of this initiative our aim is to gather the most relevant stakeholders, primarily from the EU and WB countries, in order to discuss with them the benefits of the WB countries in EU ETS both for the WB region and the EU.

Advocating for new investments into power generating infrastructure provides security of energy supply, contributes to the implementation of Green Agenda and is an essential part of sustainable economic development and human security, thus, this project fits into our mission and goals of the Balkan Dialogues project very well.

This approach advocates tangible decarbonization process within durable legal framework and clearly defined rules of engagement for major stakeholders. It takes into consideration the need to ensure security of supply and eliminate security risks associated with actual natural gas supply arrangements.

This approach takes into consideration basic human rights, including the right to life and healthy environment as proclaimed by UNGA, with the aim to provide means for rapid improvement in air quality and reduction of energy poverty.

Actual energy transition process is predominantly driven by fiscal and administrative objectives toward nominal harmonization of domestic legislation with the EU acquis. Over previous 17 years, that pattern blurred understanding of physical reality, urgencies and necessities of energy security and affordability. In addition to unprecedented policy uncertainty, this neglect of physical reality creates a risk way beyond security of supply into political and social stability.

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30, November 2023

Belgrade

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