Prince Wales’s Corporate Leaders Group issues letter in advance of EU Environment Council

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In advance of the EU Environment Council a letter from the Prince Wales’s Corporate Leaders Group was sent to the committee of permanent representatives (COREPERS) and attachés.

In it business leaders from The Prince of Wales’s Corporate Leaders Group (CLG) believe that without actions to reform fossil fuel subsidies the effectiveness of carbon pricing is blunted.

Whilst they welcome reform of the EU ETS they do not believe that the Commission’s ETS reform proposal will deliver a carbon price sufficient to maintain the EU ETS as the cornerstone of EU climate policy, nor will its auctions generate sufficient innovation funds to help industry decarbonise.

You can read the letter here.