France

The EU’s at least 55% net reduc­tion tar­get by 2030 is to be achieved through domest­ic meas­ures only, without con­tri­bu­tion from inter­na­tion­al cred­its … The EU is con­tinu­ing to explore the pos­sib­il­it­ies to link the EU ETS with oth­er robust emis­sions trad­ing sys­tems. The EU will account for its cooper­a­tion through the EU ETS with these and any oth­er Parties in a man­ner con­sist­ent with the guid­ance adop­ted by CMA1 and any fur­ther guid­ance agreed by the CMA.

In order to facil­it­ate the achieve­ment of the EU 2040 tar­get an adequate con­tri­bu­tion towards the 2040 tar­get of high qual­ity inter­na­tion­al cred­its under Art­icle 6 of the Par­is Agree­ment in a way that is both ambi­tious and cost-effi­cient, sup­port­ing the EU and third coun­tries in achiev­ing net GHG reduc­tion tra­ject­or­ies com­pat­ible with the Par­is Agree­ment object­ive to hold the increase in the glob­al aver­age tem­per­at­ure to well below 2 °C and pur­sue efforts to lim­it the tem­per­at­ure increase to 1.5 °C above pre-indus­tri­al levels — the ori­gin, qual­ity cri­ter­ia and oth­er con­di­tions con­cern­ing the acquis­i­tion and use of any such cred­its shall be reg­u­lated in EU law.Norway, Ice­land and Liecht­en­stein have been par­ti­cip­at­ing in the EU ETS1 since 2008, and an agree­ment link­ing the EU and Swiss ETS entered into force in 2020. The EU is con­tinu­ing to explore the pos­sib­il­it­ies to link the EU ETS with oth­er robust ETS. The EU will account for its cooper­a­tion through the EU ETS with these and any oth­er Parties in a man­ner con­sist­ent with the guid­ance adop­ted by the CMA.