UK expands trading scheme to further reduce carbon emissions
The UK will continue to reduce carbon emissions as part of proposals to expand the UK Emissions Trading Scheme (ETS), which will help the country meet its net zero goals while supporting economic growth. The UK ETS Authority is consulting on proposals to expand the scheme to reduce carbon emissions from the maritime sector and recognise non-pipeline transport methods, such as shipping, road or rail, for moving captured carbon into geological storage. The UK ETS Authority has also confirmed that it will make changes to free allocation rules to ensure participants who permanently cease their operations cannot benefit from surplus free allowances in their final year. The changes include an exemption for sites ceasing activity to decarbonise. This will help support the UK ETS’s objective of incentivising a move to more carbon-efficient production across the UK’s industrial sectors. UK ETS: Helping to reduce carbon emissions across key sectors Launched in 2021, the UK ETS helps the UK reduce carbon emissions across aviation, power, and industry by setting a limit on emissions. The scheme allocates allowances …
