UK signals plan to leave EU emissions trading scheme after Brexit
Britain likely to stick to its international obligations to cut carbon emissions
Britain is likely to leave the EU's emissions trading system (ETS) after Brexit and set up its own equivalent system, UK government documents published late on Wednesday show. That would mean Britain sticking to its international obligations to cut carbon emissions and would avoid UK firms gaining a competitive advantage, but could hit the price of EU carbon permits as Britain is currently such a big buyer. London and Brussels on Wednesday agreed on a draft deal over the terms of Britain leaving the bloc on March 29. That included a transitional period until December 31, 2020, meaning Britain would likely remain in the ETS until then. The documents showed Britain would, after Brexit, continue to take the necessary measures to meet its commitments under the international Paris Climate Agreement. These include implementing a system of carbon pricing at least as effective as that currently in place under EU law, “establishing a scheme for greenhouse gas emission allowance trading withi...
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