Responding to the National Audit Office’s UK Emissions Trading Scheme (ETS) report, Adam Berman, Director of Policy and Advocacy at Energy UK, said:
“The UK ETS has been a powerful tool in reducing the UK’s greenhouse gas emissions. The NAO’s report is a welcome reminder that carbon pricing remains the cornerstone of the UK’s decarbonisation efforts, and that emissions trading can harness the power of the market to incentivise emissions reductions where they are cheapest.”
“Energy UK welcomes the commitment from the UK Government and European Union to work towards linking the UK and EU carbon markets, which will support investment in decarbonisation and ensure UK businesses can avoid additional costs of up to £800m annually in charges under the EU carbon border adjustment mechanism.”
“A successful transition to Net Zero is one in which the UK maintains its competitiveness, whilst building the clean industries of the future. The UK ETS has already played an important role in supporting these efforts, and a linked UK-EU ETS will provide an even stronger mechanism to decarbonise our economy in the most cost-effective way”