Decarbonisation Debate
Full Debate: Read Full DebateDepartment: Department for Energy Security & Net Zero
Lord Teverson
Main Page: Lord Teverson (Liberal Democrat - Life peer)Department Debates - View all Lord Teverson's debates with the Department for Energy Security & Net Zero
(10 months, 1 week ago)
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Lord Callanan (Con)
I understand the point that my noble friend is making. A happy by-product for the Treasury of the emissions trading scheme is the considerable revenue that it generates, and I am sure that it is spending all this money very wisely.
Lord Teverson (LD)
My Lords, the EU-UK Trade and Cooperation Agreement, which the Government negotiated, had a clause that said that the two sides should talk further about the EU and UK emissions trading systems, and that they should be connected and start to work together. That has been strongly endorsed by most sectors of British industry. Have those negotiations started? If so, great; if not, why not?
Lord Callanan (Con)
My Lords, I appreciate the desire of the Liberal Democrats to get us into the EU regulatory orbit as quickly as possible. As with many things, there are arguments for and against the linking of the two ETS systems. They are equivalent—in fact, ours is probably slightly more ambitious than that of the EU. We will continue to explore this policy with the Commission.