Eni CEO Suggests EU Should Pause Emissions Trading System Until Geopolitical Conflicts Are Resolved
Claudio Descalzi, the chief executive of Eni (E), has called for a temporary suspension of the European Union's emissions trading system until ongoing geopolitical conflicts involving Russia-Ukraine and U.S.-Iran are resolved. According to Descalzi, as reported by Argus, the current carbon pricing mechanism is placing an undue financial burden on EU industries. The CEO described the emissions trading system (ETS) as 'a cage that is too expensive for our industry,' highlighting concerns over its impact on competitiveness and operational costs during a period of global instability. His remarks come amid rising energy prices and economic uncertainty, with European policymakers under pressure to balance climate goals with industrial viability. Descalzi's comments reflect broader anxieties within the EU business community about navigating environmental regulations while managing external geopolitical risks.
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Topics: Climate policy Energy industry Geopolitical conflict