The UK Government is increasing the country’s climate ambitions through new proposals published today showing how a new UK-wide Emissions Trading System (ETS) would work – putting a cost on carbon pollution to encourage polluters to reduce the amount of greenhouse gases they emit. The system – designed by the UK Government jointly with the Scottish Government, Welsh Government and Northern Ireland Executive – would be a crucial step towards achieving the UK’s target for net zero carbon emissions by 2050. It includes plans to reduce the existing emissions cap by five per cent, going further than the current EU system. The new scheme would replace the EU Emissions Trading System, which the UK will leave at the end of this year as the transition period ends. The system draws on the best of the current system that the UK helped to develop while ensuring it has greater flexibility to work in the best interests of the UK.
BEIS 1st June 2020 read more »
The UK Government has published new proposals on its individual UK-wide Emissions Trading System (ETS) that would replace the EU’s carbon trading variant.
Edie 2nd June 2020 read more »
Energy sector leaders have welcomed the UK Government’s intention to replace an EU emissions-busting scheme with its own version which “goes further” on reductions. The EU’s emissions trading system (ETS) limits the level of greenhouse gases that can be emitted from installations, including North Sea oil platforms. Within the cap, companies can buy emissions allowances at auction, each giving the holder the right to emit one tonne of carbon dioxide.
Energy Voice 3rd June 2020 read more »
The government has confirmed plans to deliver the first Emissions Trading Scheme (ETS) in the world to be aligned with a net zero decarbonisation target. In its official response yesterday to its previous consultation on the future of UK carbon pricing once the country leaves the EU and the bloc’s established ETS, the Department for Business, Energy, and Industrial Strategy confirmed it intended to press ahead with proposals for a new domestic carbon trading scheme.
Business Green 2nd June 2020 read more »