There is no point in creating policies like an Emissions Trading System or Carbon Performance Standards if the measurements they rely on bear little relation to empirical reality, writes Dr Danial Sturge.
The UK left the world’s largest carbon market – the European Union Emissions Trading System (EU ETS) – at the end of 2020. But with the UK holding its first auction of allowances recently, should we starting to think about linking the smaller UK market to its larger and older European cousin?
Net Zero now means that UK industrial emitters have the same imperative to decarbonise as everyone else. If UK industry is to lead the green industrial revolution, Government will not only have to incentivise deep decarbonisation of industry, but also ensure that UK industrial competitiveness is not unduly impacted.
The UK ETS currently encompasses electricity generation, but omits natural gas (and other fuels used for heating). If the scope of the UK ETS were expanded to cover buildings, specifically heating, we potentially introduce 27 million – mostly unwilling and uninterested – participants.
Achieving zero carbon electricity by 2035 (as recommend by the Climate Change Committee) will be key to decarbonising many other sectors, including road transport, buildings (i.e. heating), and industry. The UK Emissions Trading System combined with electricity decarbonisation policy mandates could be vital.
A new Energy Digitalisation Taskforce (EDiT) is being launched today by the Department for Business Energy and Industrial Strategy, is partnership with Ofgem and Innovate UK, to continue the Government’s focus on modernising the energy system to unlock flexibility and drive clean growth towards net zero emissions by 2050.
The UK wants to be a global leader in the fight against climate change, and it can take a massive step forward this year by increasing the ambition of the new UK Emissions Trading System.
This is the third in a series of six policy briefs setting out our current thinking on policies for decarbonising buildings over the next two decades as outlined in ‘Six Steps to Zero Carbon Buildings’ and the accompanying ‘Towards an enduring policy framework to decarbonise buildings’.
Energy Systems Catapult is calling for the creation of an economy-wide ‘Carbon Regulator’ to oversee monitoring, reporting, and verification of greenhouse gas emissions reduction and removal across the economy.
This report makes the case for a new ‘Carbon Regulator’ to oversee accurate and coherent monitoring, reporting, and verification of greenhouse gas emissions reduction and removal across the economy.
This consultation looks to ensure standards, both in energy efficiency and in overheating, as determined by the Building Regulations, are ambitious enough to put us on the right track to meet the 2050 Net Zero carbon emissions target and to adapt to rising temperatures over the coming years.
Rethinking Electricity Markets is an Energy Systems Catapult initiative to develop proposals to reform electricity markets so that they best enable innovative, efficient, whole energy system decarbonisation.