Julia Michalak
EU policy director at the International Emissions Trading Association who focuses on emissions trading system design, market stability reserve and industrial competitiveness issues.
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Mar 31, 2026 • 34min
Political pressure mounts on Europe's flagship carbon policy
Pedro Barata, EDF associate VP on carbon markets, offers a political-economy view. Julia Michalak, EU policy director at IETA, explains ETS design and industrial competitiveness. Irina Breilean, S&P Global carbon price reporter, traces recent price swings. They discuss plunging allowance prices, fund-driven volatility, MSR and free allocation options, and CBAM shifting toward industrial policy.
