On 12 May 2026, the European Commission’s hosted a high-level stakeholder roundtable on the review of the EU Emissions Trading System (EU ETS), bringing together close to 60 representatives from a wide range of industry, aviation and maritime sectors covered by the EU ETS, as well as civil society organisations and other relevant stakeholders such as auction platforms and market analysts.
The Roundtable gathered input on the policy priorities for the upcoming review of the EU ETS and the Market Stability Reserve (MSR) for the 2031–2040 period, as well as on the enabling conditions needed to make decarbonisation a driver of EU competitiveness and resilience. The Roundtable complements the public consultation on the evaluation and the review of the EU Emissions Trading System and the Market Stability Reserve conducted in 2025. It also took into account the interim developments on the evaluation and review process, geopolitical events and guidance from the March 2026 European Council and the 2040 target amendment to the European Climate Law.
Key takeaways
There was broad support from a wide range of stakeholders to progress on the path towards decarbonisation. The EU ETS plays a central role as a rule-based, market-based, single market-based and technologically neutral instrument, but needs to be accompanied with the right enabling conditions and policy consistency across interlinked areas.
While stakeholders addressed a variety of policy priorities to be addressed in the EU ETS review, clear common priorities were making the ETS an even stronger engine for investments, aligning ambition with the EU’s 2040 and 2050 climate targets, safeguarding investment predictability through a rules-based and stable system, and the continued importance of effective carbon and investment leakage protection.
Finally, stakeholders highlighted some key enabling conditions beyond the EU ETS to make decarbonisation a driver of EU competitiveness and security.
First, EU companies need affordable energy and access to infrastructure. A second driver is the creation of lead markets for low-carbon products and solutions. Thirdly, access to finance, where the Capital Markets Union will be just as essential as ETS. Fourth, circularity of materials and of CO2. Fifth, economic security, protecting against unfair competition. Finally, simplification remains a horizontal enabler, for example in the context of permitting. In this context too, the Clean Industrial Deal underlines the importance of a more predictable and business-friendly framework for Europe’s industrial transition. The ETS, as a market-based instrument can contribute to avoiding additional regulation.
The Commission is determined to use the revision of the EU ETS to create an even stronger engine for investment and innovation in Europe. Our objective with the Roundtable was to hear directly from stakeholders and better understand the wide-ranging expectations around the EU ETS review. This feedback will be taken into careful consideration in the preparation of the Commission’s proposals, currently scheduled for 15 July.
Background
Building on the March 2026 European Council Conclusions, President von der Leyen announced the initiative to organise a high-level stakeholder event on the development of the EU Emissions Trading System (EU ETS) review, which is central to Europe’s competitiveness and decarbonisation, driving investment, innovation, and clean industrial growth.
The Roundtable complements the open public consultation on the evaluation and the review of the EU Emissions Trading System and the Market Stability Reserve conducted in 2025, in view of the interim developments on the evaluation and review process, geopolitical events and guidance from the March 2026 European Council and the 2040 target amendment to the European Climate Law.
Event recording
Click here to watch back the high-level stakeholder roundtable.
Participating organisations
- European Automobile Manufacturers’ Association (ACEA)
- Agora Energiewende
- Airlines 4 Europe
- ArcelorMittal Europe
- Aerospace, Security and Defence industry (ASD)
- Bellona
- Bruegel
- Business for CBAM Coalition
- BusinessEurope
- CAN Europe
- Carbon Management Europe
- Carbon Market Watch
- CarbonGap
- European Chemical Industry Council (Cefic)
- Eurelectric
- Cement Europe
- Confederation of European Paper Industries (Cepi)
- Cerame-Unie
- Confederation of European Waste-to-Energy Plants (CEWEP)
- CleanTech for Europe
- CO2 Value Europe
- Concito
- Corporate Leaders Group
- Ecocem
- European Community Shipowners’ Association (ECSA)
- European Energy Exchange (EEX)
- Engie
- European Roundtable on Climate Change and Sustainable Transition (ERCST)
- European Round Table for Industry (ERT)
- European Sea Ports Organisation (ESPO)
- European Alliance to Save Energy (EUASE)
- European Lime Association (EuLA)
- European Steel Association (Eurofer)
- European Aluminium
- European Metals
- Fertilizers Europe
- FuelsEurope
- Futerro SA
- Glass Alliance Europe
- Heidelberg Materials
- Holcim
- Holmen
- Hydnum Steel
- Hydrogen Europe
- Iberdrola
- ICIS
- Indaver
- International Emissions Trading Association (IETA)
- International Federation of Industrial Energy Consumers (IFIEC)
- IndustriAll
- Lufthansa
- LyondellBasell
- AP Moller-Maersk
- PGE Europe
- Recycling Europe
- Ryanair
- SolarPowerEurope
- Transport & Environment (T&E)
- Veyt
- Wienerberger
- WindEurope
- ZeroWasteEurope
