The European Banking Federation outlined priorities for EU climate policy, linking the mobilisation of private capital to regulatory certainty and calling for a strong, credible and predictable EU Emission Trading System to support Europe’s climate ambitions, energy independence, and long-term investment and innovation. It argued that stable policies help mitigate risk, avoid speculation, and improve project risk profiles, costs, and bankability. Measures that weaken policy consistency, predictability, or the carbon price signal would, in its view, raise financing costs for the transition, slow clean technology deployment, and undermine confidence in the ETS as market participants assess its policy trajectory beyond 2030.