UK: Parliament has voted to grant Her Majesty's Treasury powers to implement a UK emissions trading scheme (ETS) in line with the Climate Change Act (2008). Accountancy Daily News has reported that the ETS will be linked to the EU ETS ‘if such is suited to both sides’ interests,’ but, if not, will be subject to an alternative pricing mechanism. The Treasury said that “in a standalone UK ETS, additional market stability mechanisms can be implemented.”
UK ETS in the offing
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