After Brexit ‘divorce’, UK-EU carbon market linkage will take time -academic
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.
Read MoreUK government reshuffles climate ministers with an eye on COP26 summit
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.
Read MoreEU carbon prices hit new record of €33.50 after Brexit trade deal clinched
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.
Read MoreCOMMENT: The UK ETS – It’s (officially) a thing
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…
Read MoreICE Futures Europe appointed auction host for UK ETS
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.
Read MoreUK utility Drax agrees to sell gas assets to Vitol to focus on carbon negative ambitions
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.
Read MoreFarewell EU ETS: UK confirms plans to establish post-Brexit carbon market from Jan. 2021
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.
Read MoreUK to submit Paris NDC to cut emissions at least 68% by 2030 without offsets
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.
Read MoreUK campaigner wins court hearing in effort to price GHGs from incinerators
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.
Read MoreUK opens consultation on post-Brexit ETS penalties, in another sign rousing carbon trade proponents
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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