UK ETS Consultation – Inclusion of Greenhouse Gas Removals

UK Emissions Trading Scheme (UK ETS)

In 2023 the UK ETS Authority confirmed their intention to include engineered Greenhouse Gas Removals (GGRs) in the UK ETS in the belief that it would provide an appropriate long-term market for both nature based and engineered GGRs. For details of the UK ETS Authorities response in 2023, see click here. The latest consultation, released […]

TCFD Implementation – FRAB Recommendations

Shaun

The Financial Reporting Advisory Board (FRAB) recommends a three step approach to TCFD implementation in the public sector.    What is TCFD? Created in 2015, the Taskforce on Climate-Related Financial Disclosures (TCFD) set out to develop a framework for public companies to productively disclose climate related risks, with the aim of using these to promote […]

UK ETS Authority – Long-term pathway for UK ETS published

Shaun

The UK Emissions Trading Scheme (UK ETS) Authority has published a long-term pathway for the UK ETS, as recommended by an Independent Review of Net Zero. The scheme will encourage investment in decarbonisation by providing businesses with certainty.   Long term Commitment The legislation underpinning the scheme has been extended to (at least) 2050, when […]

Carbon price set for civil penalties in 2024.

UK Emissions Trading Scheme (UK ETS)

The UK ETS Authority has determined the carbon price for use in civil penalties during the 2024 reporting year will be £64.90.   What is the carbon price for civil penalties? Hospitals and small emitters (HSEs) are installations within UK ETS that can chose to opt out of the main scheme, if they meet both of […]

METS (Manage Your UK Emissions Trading Scheme Report Service) Launches

Shaun

August has seen the launch of the new UK ETS reporting system, METS, which replaces the previous EU based ETSWAP portal. As part of this transition, only the current active permit and a sole primary contact for each installation have been migrated, with the primary contact expected to add all other users as necessary. The […]

ESOS Phase 3 Compliance Deadline Extended.

Energy Savings Opportunity Scheme ESOS Phase 3

As announced in the June ESOS newsletter, the ESOS Phase 3 compliance deadline has been postponed until the 5th June 2024 (previously 5th December 2023). Due to changes announced in the UK Government’s ESOS consultation response in July last year, the extension has been granted to allow necessary time to ensure participants meet the new […]

Delayed Launch of ETSWAP Replacement System: METS

UK Emissions Trading Scheme (UK ETS)

A further update on the status of the ETSWAP replacement system has now been circulated by the Regulator. This follows on from our news updates posted about the original timeline of ETSWAP being replaced and a new system launch in October 2022 – click here to read this. And, the subsequent delay of the new […]

Carbon price set for civil penalties in 2023

UK Emissions Trading Scheme (UK ETS)

The UK ETS Authority has determined the carbon price for use in civil penalties during the 2023 reporting year will be £83.03. What is the carbon price for civil penalties? Hospitals and small emitters (HSEs) are installations within UK ETS that can chose to opt out of the main scheme as they have a capacity […]

UK Emissions Trading Scheme – Migrating to a new PMRV system.

UK Emissions Trading Scheme (UK ETS)

Last year the UK Emissions Trading Scheme (UK ETS) replaced the UK’s participation in the EU ETS. As part of this transition, a new UK system will soon be launched for permitting, monitoring, reporting and verification (PMRV) – replacing the existing ETSWAP system. Recently the Environment Agency has written to all site operators participating in the […]

What is carbon leakage?

UK Emissions Trading Scheme (UK ETS)

Carbon leakage is a term used to describe the migration of emissions between jurisdictions, resulting in increased greenhouse gas emissions. To explain carbon leakage further; if a business decides to shut down their production facility in Country A, which has strict regulations, and instead open a new site in Country B which has more lenient […]