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Brexit Update – The future of UK Carbon Pricing
As the Brexit deadline is fast approaching it still remains uncertain on the outcome of the negotiations and how these will provide a clear path for the country’s carbon emissions.
The UK Government has provided guidelines to inform the public about how it will operate under the different Brexit scenarios regarding the climate policy and carbon emissions targets set to 2050.
The government has made it clear that it will remain fully committed to carbon pricing as “an effective tool for achieving our carbon emissions reductions targets.”
Under the political declaration on Brexit negotiations which was agreed between the UK and the EU the UK’s preferred option pricing is to establish a UK national greenhouse gas emissions trading system (UK ETS) linked to the EU Emissions Trading System (EU ETS).
We have included a handy briefing paper from our partner, Mitie Energy, to explore the Deal, No Deal and Brexit Extension scenarios. Our Members have access to this document through the My Documents page following this link.
We hope you find it useful and it sheds some light under the very tricky subject of Brexit!
