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To ask Her Majesty's Government what assessment they have made of the impact of Brexit on the EU Emissions Trading System.
The Government is considering carefully the potential impacts of a wide range of EU Exit scenarios relating to the EU ETS, both on the system itself and on UK operators covered by the system. This includes consideration of the risks that a mid-Phase exit of the EU ETS could present for UK operators.
To ensure a smooth transition and avoid a cliff edge on withdrawal, the UK has proposed to the EU an implementation period of about two years where we would continue to have access to each other’s markets on current terms. We are calling for this to be agreed as early as possible to provide clarity.