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After Brexit ‘divorce’, UK-EU carbon market linkage will take time -academic

Published 19:39 on January 20, 2021  /  Last updated at 21:40 on January 20, 2021  /  EMEA, EU ETS, UK ETS  /  No Comments

Linking the UK’s recently established carbon market with the EU ETS will take time, with post-Brexit politics rather than technical or design issues likely to stand in the way, an environmental economics professor has told Carbon Pulse.

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UK government reshuffles climate ministers with an eye on COP26 summit

Published 18:36 on January 8, 2021  /  Last updated at 08:33 on January 11, 2021  /  Climate Talks, EMEA, EU ETS, International, UK ETS  /  No Comments

The UK government shuffled its climate ministers on Friday, with Business Secretary Alok Sharma stepping down from that post to focus full time on his role as president of the upcoming UN climate summit.

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EU carbon prices hit new record of €33.50 after Brexit trade deal clinched

Published 15:22 on December 28, 2020  /  Last updated at 22:55 on December 28, 2020  /  EMEA, EU ETS, UK ETS  /  No Comments

European carbon prices rose to a new all-time high on Monday after the EU and UK reached a post-Brexit trade deal late last week, and as colder weather and limited allowance supply provided support.

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COMMENT: The UK ETS – It’s (officially) a thing

Published 18:59 on December 17, 2020  /  Last updated at 18:59 on December 17, 2020  /  Conversations, EMEA, EU ETS, UK ETS, Views  /  No Comments

So it’s official – the UK will launch its own emissions trading system in 2021. Of course, it won’t actually begin on January 1, as the Department for Business, Energy and Industrial Strategy – the regulator – has yet to work out what the free allocations should be, how many UK Allowances (are we OK with UKA as an abbreviation?) will be auctioned, etc etc. But we know a few things…

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ICE Futures Europe appointed auction host for UK ETS

Published 14:37 on December 17, 2020  /  Last updated at 15:46 on December 17, 2020  /  EMEA, EU ETS, UK ETS  /  No Comments

ICE Futures Europe has been appointed to host carbon allowance auctions under the UK’s new emissions trading scheme, the London-based exchange announced Thursday.

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UK utility Drax agrees to sell gas assets to Vitol to focus on carbon negative ambitions

Published 14:37 on December 15, 2020  /  Last updated at 23:48 on December 15, 2020  /  EMEA, EU ETS, UK ETS  /  No Comments

Drax has struck a deal to sell four gas power plants to energy trader Vitol, as the UK utility sheds its carbon allowance demand and shifts its focus to its biomass-based route to negative emissions.

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Farewell EU ETS: UK confirms plans to establish post-Brexit carbon market from Jan. 2021

Published 08:54 on December 14, 2020  /  Last updated at 16:17 on December 17, 2020  /  EMEA, EU ETS, UK ETS  /  No Comments

The UK will have its own “ambitious” ETS starting from January to replace its participation in the EU’s carbon market as the Brexit transition period comes to an end, the government announced Monday, confirming its preference for a trading solution rather than a new emissions tax.

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UK to submit Paris NDC to cut emissions at least 68% by 2030 without offsets

Published 22:30 on December 3, 2020  /  Last updated at 15:35 on December 28, 2020  /  Climate Talks, EMEA, EU ETS, International, UK ETS  /  No Comments

The UK government will next week submit a Paris Agreement pledge to cut emissions 68% under 1990 levels by 2030, up from the current 61% goal and without the use of international credits, it announced late Thursday.

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UK campaigner wins court hearing in effort to price GHGs from incinerators

Published 20:35 on December 1, 2020  /  Last updated at 09:42 on December 14, 2020  /  EMEA, EU ETS, UK ETS  /  No Comments

A UK high court judge on Tuesday ruled that a climate campaigner could sue the government for excluding waste incinerators from greenhouse gas pricing, teeing up a case that could help set a precedent for the EU.

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UK opens consultation on post-Brexit ETS penalties, in another sign rousing carbon trade proponents

Published 22:55 on November 25, 2020  /  Last updated at 09:42 on December 14, 2020  /  Climate Talks, EMEA, EU ETS, International, UK ETS  /  No Comments

The British government is consulting the oil and gas industry about penalties under a post-Brexit UK emissions trading scheme, in what observers said was another potential sign the country will opt to implement a domestic cap-and-trade system instead of a tax when it leaves the EU ETS at the end of this year.

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