ETS

It is consulting on the risk of carbon leakage due to the indirect emission costs from the UK Emissions Trading System and carbon price support and the sectors most at risk

Carbon pricing instruments generate around $5bn in revenue, representing a 17% increase from last year, however, the full potential of carbon pricing ‘remains largely untapped’

They believe this would create a global level playing field as well as an incentive for both EU and non-EU industries to decarbonise in line with the Paris climate agreement

The drop was mainly driven by the power sector, where emissions fell by almost 15%, primarily due to coal-fired power production being replaced by electricity from renewables and gas

Its establishment ensures policy continuity when the UK leaves the EU scheme at the end of the implementation period

The Commission has launched a consultation on the revised guidelines for emissions allowance trading post-2021, which includes reducing the number of sectors eligible for compensation

The Commission says Polish legislation favours highly polluting activities and does now require energy intensive businesses to improve their efficiency

Iceland and Norway intend to develop a national climate plan describing their existing and planned policies and measures

A joint consultation has been launched by the UK Government and the devolved administrations in Scotland, Wales and Northern Ireland

It has stepped in to purchase the necessary carbon credits on behalf of the company