My Lords, as a former MEP, I should consider a two-minute speech a luxury.
I will focus on a single point that the report does not cover in detail: climate change. The UK has been an active—indeed, a leading—participant in the EU’s endeavours to address climate change. With the postponement of the COP 26 gathering in Glasgow for another year, we have an opportunity to reconcile and resolve our relationship with the EU. There are certain elements on which we can do good, and there are certain areas where, by sharing, we can help all countries in the EU. We are in the middle of a crisis in terms of the pandemic, but perhaps the greater challenge going forward is how to interweave our ambitions to address the wider challenges of climate change.
I am specifically concerned about our relationship with the Emissions Trading Scheme. I would welcome some detail on that, perhaps not at this moment but in the future. I believe that we have an opportunity at COP 26 in Glasgow to demonstrate leadership, but we should do so together with the EU. Together, we can achieve more, particularly on climate change.