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Event
Members only
#Energy & Sustainability

CERRE Breakfast: The Future of European Carbon Markets

29 January 2026
08:30
- 10:00
About
Speakers

About

CERRE continues its series of private breakfast events for policy makers, academia, corporates, national regulators, and other relevant stakeholders operating in the energy, mobility, and digital policy areas.

These private breakfasts provide a unique opportunity for CERRE members to exchange thoughts with invited guests under Chatham House rule. Each session is focused on a timely topic covering the span of CERRE’s policy scope, from energy, sustainability, and mobility to technology, media, and telecommunications, as well as cross-sectoral issues.

On 29 January 2026, CERRE will host Dr. Kong Chyong, CERRE Research Fellow and Senior Research Fellow in Energy System Economics and Modelling at the Oxford Institute for Energy Studies. 

The discussion will focus on the future of European carbon markets, as the 2026 review of the EU Emissions Trading System (ETS) marks a first important step in the regulatory framework underpinning the EU’s 2040 climate target. 

European industry is increasingly under pressure, raising questions about the pace and sustainability of the EU’s decarbonisation agenda. In this context, discussions around the evolution of ETS1 and ETS2 continue to intensify. Member States have opted for a delay of the full ETS2 launch to 2028 while taking steps to mitigate price pressure from ETS1. 

The session will explore the regulatory, economic, and governance dimensions of measures planned to ensure a smooth launch of ETS2, and its integration with ETS1. The insights gathered will feed into CERRE’s 2026 report on Europe’s dual carbon markets. 

Join us for a cross-sector and forward-looking exchange on the challenges and opportunities for Europe’s carbon pricing architecture. 

If you want to know more about these sessions, how to become a member of CERRE, and have the opportunity to join these meetings, contact us.

Speakers

Kong Chyong
Kong Chyong
Research Fellow
and Oxford Institute for Energy Studies

Dr. Kong Chyong is an applied energy economist and policy analyst with a strong background and more than fifteen years of experience in applications of economics and operational research methods to energy and climate policy questions. Kong’s research interests include economics and geopolitics of Russian natural gas exports, with a focus on Russo-Ukrainian bilateral relations and impacts on Europe and global gas markets. He also works on large-scale modelling of power markets, with a focus on low-carbon generation sources and integration of renewables.

Currently, Kong is a Senior Research Fellow in Energy System Economics and Modelling at the Oxford Institute for Energy Studies. Before this, he was Senior Research Scholar with the Center on Global Energy Policy at Columbia University. Prior to joining Columbia University, Kong was a research associate with the Energy Policy Research Group (EPRG) based at the Cambridge Judge Business School, University of Cambridge. Kong holds a PhD in Energy Economics and Policy (2011) and an MPhil in Technology Policy (2007) from the University of Cambridge. His PhD topic concerned Russia’s strategic natural gas export policy and Gazprom’s pipeline investment strategy.

Prior to his studies at Cambridge University, Kong was a researcher at the at the National Academy of Sciences in Ukraine.

Dr. Kong Chyong is an applied energy economist and policy analyst with a strong background and more than fifteen years of experience in applications of economics and operational research methods to energy and climate policy questions. Kong’s research interests include economics and geopolitics of Russian natural gas exports, with a focus on Russo-Ukrainian bilateral relations and impacts on Europe and global gas markets. He also works on large-scale modelling of power markets, with a focus on low-carbon generation sources and integration of renewables.

Currently, Kong is a Senior Research Fellow in Energy System Economics and Modelling at the Oxford Institute for Energy Studies. Before this, he was Senior Research Scholar with the Center on Global Energy Policy at Columbia University. Prior to joining Columbia University, Kong was a research associate with the Energy Policy Research Group (EPRG) based at the Cambridge Judge Business School, University of Cambridge. Kong holds a PhD in Energy Economics and Policy (2011) and an MPhil in Technology Policy (2007) from the University of Cambridge. His PhD topic concerned Russia’s strategic natural gas export policy and Gazprom’s pipeline investment strategy.

Prior to his studies at Cambridge University, Kong was a researcher at the at the National Academy of Sciences in Ukraine.

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