EU closes in on ETS reform, but Brexit remains a risk

Progress is being made towards reforming the EU Emissions Trading System, but Brexit poses a risk to future trust in the scheme
By Andreas Walstad 15 September 2017
A power station in the UK The UK’s coal- and biomass-fired Drax power station. (Drax)

EU negotiators have made progress towards reforming the EU’s Emissions Trading System (ETS), but a proposal to nullify UK allowances under a ‘hard Brexit’ scenario has prompted criticism.   

Three-way negotiations in Strasbourg between the EU Parliament, the Council of the EU and the European Commission this week showed progress towards a final agreement on withdrawing surplus allowances from the carbon market, which are estimated to number around 1.7 billion.

Negotiators now seem closer to a deal to double the intake rate of surplus allowances into the...

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