The ETS Modernisation Fund: Catalysing a locally-driven energy transition in central and eastern Europe

Energy Cities, Counter Balance, CEE Bankwatch Network and Change Partnership see the ongoing revision of the European ETS as a crucial opportunity to support the EU in meeting its 2030 climate targets, deliver on the Paris agreement and accelerate the locally driven energy transition. We welcome the proposal to establish an ETS (Emission Trading System) Modernisation Fund for low-income Member States. This letter outlines five key principles along which the ETS Modernisation Fund must be designed to help central and eastern European states transform their energy systems for the benefit of European consumers and citizens.