EU and UK strike deal to link emissions trading schemes
The agreement is expected to save UK companies £800 million by 2030.
The EU and UK have agreed to link their respective emissions trading schemes (ETS), avoiding extra costs for UK exporters and paving the way for cross-border carbon storage.
The European Commission and the UK government agreed yesterday at the UK-EU Summit to start connecting their cap-and-trade systems to stabilise and strengthen carbon prices, as well as exempting UK exporters from the EU’s Carbon Border Adjustment Mechanism (CBAM). This is expected to save UK companies £800 million by 2030.
