Task Forces

  • According to the EU ETS Directive (Art. 1), the objective of the ETS is to “promote GHG reductions in a cost-effective and economically efficient manner”. Hence, the over-arching objective is cost-effective achievement of a politically given target. By some, including most conventional economists this is construed as a call for the lowest possible EU allowance price, for example allowing the use of as many offsets as possible – provided they reflect real reductions to reach a given objective.

  • The unstoppable race of commodity prices comes at a critical moment, when European and US economies are languishing in regaining the ground lost as a result of the recent financial crisis. Policy makers and the public opinion are shrouded in a mist of mounting worries and anger around commodity prices. Regulators worldwide have agreed in the G20 to address price volatility and are bringing forward a number of regulatory proposals to improve the regulation, functioning, and transparency of commodity markets.

  • The economic crisis has exposed the weaknesses of the European economies and emphasised the needs to boost competitiveness of the private sector by means of further economic integration and growth enhancing policies. Climate change has made the world aware that energy production and use needs a fundamental restructuring towards low carbon solutions. Competitiveness, employment and energy security are Europe’s central challenges.

  • Creating a global economy that emits a fraction of its current greenhouse gas emissions will not only require wholesale changes in the ways economies are structured, but more importantly a new and unprecedented innovation drive in the EU and beyond. This is especially true for the energy sector, which is responsible for up to 80% of total GHG emissions. There is consensus now that economic growth, welfare and competitiveness of the EU will depend on the EU’ success in developing, deploying and competing in new low-carbon technologies.

  • Completed task forces

    The Task Force Rethinking Asset Management was set up by the Centre for European Policy Studies (CEPS) and the European Capital Markets Institute (ECMI) in late 2010 to research four topics, in view of their relevance for the European economy, the single market and investors:

  • Completed task forces

    CEPS launches a new Task Force which deals with “EU Transport Policy – Innovation, Integration and 21st Century Infrastructure”.

  • The Copenhagen Accord has brought a limited success in paving the way towards the creation of a wider and more inclusive framework succeeding the Kyoto Protocol. The challenge is how to translate the political guidance into practical decisions that can be integrated in the overall negotiating package. The most important outcome is the lack of a legal agreement on quantitative mid-term GHG emission reduction commitments by developed countries.

  • The European Capital Markets Institute and the Centre for European Policy Studies wish to engage in the international debate with European regulators on the review of the Markets in Financial Instruments Directive (MiFID) run by the European Commission and the Committee of European Securities Regulators. The revision of MiFID represents a new challenge for Europe, which strives to improve efficiency and integration of its capital markets.

  • The recent institutional re-shuffle has charged new internal market Commissioner Michel Barnier with the task of evaluating costs and benefits of re-designing the regulatory framework currently governing the EU’s retail credit market(s). 

    Barnier’s team will have to set its sails for the headwinds if in favor of a policy decision tightening the legislative grip on a sector that moved into the spotlight in the wake of the financial crisis.

  • Over the past few years, the attention of policymakers and industry players towards the protection of critical infrastructure has grown remarkably. In the era of networks, citizens and businesses have become increasingly dependent on a large set of infrastructures encompassing energy networks, the banking sector, telecommunications, the Internet etc. In the US, a national programme to protect critical infrastructure was launched in 1998, under the Clinton administration, and was confirmed and updated under the Bush administration in 2003.