The example that my hon. Friend gives—that of Germany—would fall neatly into the European Union, which is consulting on this very issue, so in that case, it would be a coalition of the willing to allow us to go forward, I hope, with a form of equality between the European emissions trading scheme, or its successor, and the approach that we would take ourselves. However, I accept that that would be up to country-by-country negotiations.
Is there international support for this approach? Do we have a realistic prospect of bringing the world community together and with us at COP26? I say that there is, because President-elect Biden has already spoken about “carbon adjustment fees” against
“countries that are failing to meet their climate and environmental obligations.”
That is a clear indicator that the incoming Administration in America is taking this seriously. I know that there is many a slip between a statement of intent and action, but it is something that we can potentially get behind at COP26. The European Union, as has been mentioned, just this July launched a formal consultation on the implementation of a border carbon adjustment, and it is worth noting that for the President of the Commission—I think it was part of her manifesto when she was first appointed— this is one of the key objectives for her presidency.