5-th LIFE VIIEW Advisory Board

5-th LIFE VIIEW Advisory Board

5-th LIFE VIIEW Advisory Board

On October 24th, 2024, the 5th Advisory Board meeting of the LIFE VIIEW 2050 project, implemented by the Centre for Climate and Energy Analysis (CAKE), took place.

During the meeting, Jakub Boratyński, CAKE Expert in CGE modeling, presented the latest study on the impacts of linking the EU ETS with other carbon pricing schemes, as well as the use of emission offsets from Global South countries. These policies aim to enhance the efficiency of mitigation actions by leveraging cheaper decarbonization opportunities where they are available.

Key Points of the Analysis:

• The study explored the potential for linking EU ETS 1 and EU ETS 2 with similar schemes in the UK, Korea, Mexico, USA (California), Canada (Quebec), and China (in a limited capacity).
• The findings indicate that linking could lower the EU carbon price by approximately EUR 50/t. Initially, the EU would use over 250 Mt of allowances purchased from other schemes, with this number decreasing in subsequent periods. In most cases, all parties benefit from the linking through small welfare gains. Similar conclusions were drawn for the offset scenario.

Robert Jeszke, Deputy Director of IOŚ-PIB and KOBIZE, and CEO of CAKE, provided a summary of the work done under the LIFE VIIEW 2050 project. He also introduced a new project recently initiated by CAKE – LIFE ENSPIRE. More information about the LIFE ENSPIRE project can be found at link.

Advisory Board Participants

We extend our sincere gratitude to all distinguished Advisory Board Members for their participation and valuable insights that contributed to the progress of the LIFE VIIEW 2050 project:

• Artur Runge-Metzger (MCC),
• Simone Borghesi (Director of the Florence School of Regulation, European University Institute),
• Antonio Soria Ramirez (European Commission, EU Science, Research and Innovation, JRC),
• Stefano F. Verde (University of Siena),
• Wojciech Burkiewicz (Chancellery of the Prime Minister of Poland),
• Jos Delbeke (European Investment Bank – EIB),
• Przemysław Sikora (European Commission, EU Science, Research and Innovation, JRC).