{"id":53510,"date":"2024-11-29T11:31:14","date_gmt":"2024-11-29T11:31:14","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=53510"},"modified":"2024-11-29T11:31:14","modified_gmt":"2024-11-29T11:31:14","slug":"uk-expands-trading-scheme-to-further-reduce-carbon-emissions","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/uk-expands-trading-scheme-to-further-reduce-carbon-emissions\/53510\/","title":{"rendered":"UK expands trading scheme to further reduce carbon emissions"},"content":{"rendered":"
The UK ETS Authority is consulting on proposals to expand the scheme to reduce carbon emissions from the maritime sector and recognise non-pipeline transport methods, such as shipping, road or rail, for moving captured carbon into geological storage.<\/p>\n
The UK ETS Authority has also confirmed that it will make changes to free allocation rules to ensure participants who permanently cease their operations cannot benefit from surplus free allowances in their final year.<\/p>\n
The changes include an exemption for sites ceasing activity to decarbonise. This will help support the UK ETS\u2019s objective of incentivising a move to more carbon-efficient production across the UK\u2019s industrial sectors.<\/p>\n
Launched in 2021, the UK ETS helps the UK reduce carbon emissions across aviation, power, and industry by setting a limit on emissions.<\/p>\n
The scheme allocates allowances that can be traded, creating a carbon price that incentivises businesses to reduce their emissions.<\/p>\n
The UK ETS Authority is made up of the UK Government, the Scottish Government, the Welsh Government and the Department of Agriculture, Environment and Rural Affairs for Northern Ireland.<\/p>\n
The UK ETS Regulators are responsible for enforcing compliance with the UK ETS Regulations, including operational functions such as issuing and ensuring compliance with permits (for installations) and emissions plans (for aviation).<\/p>\n
The regulators for each of the UK nations, controlled waters, territorial sea and the UK sector of the continental shelf are listed in article 10 of The Greenhouse Gas Emissions Trading Scheme Order 2020<\/a>.<\/p>\n By expanding the scheme to reduce carbon emissions in the maritime sector, businesses with ships operating domestic voyages would need to obtain allowances for every tonne of carbon they emit.<\/p>\n This will ensure that the price of fuels used by the sector better reflects their environmental impacts.<\/p>\nThe role of carbon capture and storage in a net zero future<\/h3>\n