GBIC comments on the potential use of international carbon credits under the EU 2040 clima

The German Banking Industry Committee has participated in the European Commission’s consultation on establishing a framework for the possible use of international carbon credits under the EU’s 2040 climate target. In its statement, the Committee highlights the importance of international carbon credits for a cost-efficient and investment-friendly transformation. At the same time, it emphasises that international credits should complement decarbonisation efforts and not replace domestic emission reductions within the European Union The Committee also stresses the need for a robust and coherent framework that ensures environmental and financial integrity, enables well-functioning markets and safeguards a level playing field.