MEP Cyrus Engerer’s law on the Market Stability Reserve of the European Emissions Trading System was officially signed in Strasbourg on Wednesday.

The law was signed during an ad hoc signing ceremony organised by the cabinet of EP president Roberta Metsola.

The signing ceremony was attended by the Swedish Minister for Foreign Affairs Jessika Roswall, representing the Swedish Presidency of the Council of the European Union as co-legislator with the European Parliament.

“Following the negotiations firstly within the European Parliament with all political groups and later with the Council of the European Union’s Presidency to reach an agreement, it is rewarding to see this legislation coming to life”, Engerer said.

The legislation, he said, sought to bring about the necessary changes which will strengthen the European emissions trading system. This is necessary for the EU to meet its climate goals by 2030 and to become energy-sovereign, through the reduction of its dependence on Russia’s fossil fuels.

The official signatures come a month after the vote which took place during the March plenary session.

As rapporteur, Engerer was entrusted to lead negotiations on the law which is part of the EU’s Fit for 55 package of measures seeking to address the climate emergency.

His priorities focused on the protection of the most vulnerable sectors of our societies whilst seeking to be as ambitious as possible in green targets.

The law will enter into force in the coming weeks.