Lords to hear evidence on the impact of leaving the EU Emissions Trading Scheme
In a one off evidence session, the House of Lords EU Energy and Environment Sub-Committee will explore the implications of Brexit for the UK's participation in the EU Emissions Trading Scheme (EU ETS) on Wednesday 14 March.
The EU ETS is the EU's key tool for the cost-efficient reduction of greenhouse gas emissions, and in turn is a key part of the UK's action to tackle climate change. If the UK leaves the scheme without replacement measures in place, there is a risk that it will fail to meet its legal obligations to reduce emissions.
The Committee will therefore explore with the witnesses how desirable it is to continue to participate in the scheme, the implications of withdrawing, and the impact of alternative approaches to carbon pricing.
The session will begin at 10:30am and giving evidence will be:
- Debbie Stockwell, Managing Director, Sandbag
- Silke Goldberg, Partner, Herbert Smith Freehills LLP
- Lawrence Slade, Chief Executive, Energy UK
Topics the Committee are likely to cover include:
- Whether it is possible or desirable for the UK to continue to participate in the EU ETS after Brexit
- The timing options for withdrawing from the EU ETS
- The agreement reached with the EU on managing the UK's allowances during the withdrawal period
- The impact of losing EU ETS revenue
The evidence session will take place in Committee room 4 of the House of Lords.
