The Commission's proposed reforms of the EU Emissions Trading System fail to address its obvious flaw - the ETS is not fit for purpose and should be dropped, according to a coalition of environmental NGOs, including Corporate Europe Observatory, Cuonter Balance and FERN. They argue that the ETS has failed to achieve its own objectives, has generated windfall profits for polluting corporations, and postponed the needed transition from fossil fuels, locking the EU into a carbon-intensive future.