UK’s Emissions Trading Scheme agreement with EU

The UK Government and European Union have today (May 19) agreed to enter negotiations to link their Emissions Trading Schemes (ETS). This would present significant advantages for both regions in the pursuit of a clean and secure energy system by supporting industrial competitiveness and removing barriers to UK-EU trade.

Commenting, Andrew MacNish Porter, Head of Economics and Markets at Scottish Renewables, said:

“The renewable energy industry has been calling for closer cooperation between the UK and EU by linking their respective emissions trading schemes and today’s announcement is a welcome commitment to achieve the significant benefits this will deliver. 

“A recent report has indicated that linking the two schemes could provide shared benefits to the UK and EU including savings of up to €770 million by 2030 while boosting investment and enabling the delivery of clean energy projects.

“At a time of increased global competition for clean power investment, linking the UK and EU’s emission trading schemes will bolster our shared energy security and help preserve Scotland’s reputation as an attractive place to build green energy infrastructure.”

Ends

Notes to editors

• Read more about the announcement on the UK Government's website.
• Scottish Renewables signed a letter alongside 52 organisations in support of UK-EU ETS linkage on April 30 which you can read on our website.
• Read more about the shared benefits of an UK–EU carbon market link by Frontier Economics.