The largest share of methane emissions footprint from EU gas consumption is estimated to come from upstream emissions in countries supplying gas to the EU. A methane performance standard on natural gas can be defined for the upstream segments of the gas supply chain using an existing methane emissions reporting framework (OGMP 2.0) and targets and definitions already developed by industry. A methane performance standard could take the form of a mandatory requirement that all natural gas sold on the EU internal market meets a benchmark upstream emission intensity value equivalent to 0.2%. To cover both imported and domestically produced gas, the point of obligation for a methane performance standard would likely need to be all EU gas shippers. To incentivize shippers to conform with the performance standard, they would need to be penalised for the portion of their gas volumes for which the methane emission intensity exceeds the benchmark value.
Following the EMD reform of 2024, the Commission is tasked to publish a report on the ‘possibilities of streamlining and simplifying the process of applying for a capacity mechanism’ by [...]
Capacity mechanisms are gaining momentum in Europe, and the latest EU electricity market reform further reinforces their role. The negative externalities exerted by these national mechanisms in interconnected zones might, [...]
The European Commission has confirmed plans to enshrine a 90% greenhouse gas (GHG) reduction target by 2040 into law, in line with the European Climate Law’s goal of achieving climate [...]
With 2023 being the hottest year documented and global emissions remaining at record-high levels, we are reminded about the importance of translating climate commitments into effective policies – across both [...]
This report summarises the insights collected during the workshop on “The role of carbon markets in reaching carbon neutrality”, which took place in June 2024. This workshop was part of [...]
The report prepared by Mr Draghi, former President of the European Central Bank and former Prime Minister of Italy, to the European Commission entitled “EU competitiveness: Looking ahead” (“the Draghi [...]
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