|Policy Type:||Economic Instruments>Market-based instruments, Policy Support|
|Agency:||Department of the Environment, Transport, and the Region (DETR)|
|Legal References:||"Outline Proposals for a UK Emissions Trading Scheme", Emissions Trading Group, March 2000|
|Climate Change Description:|
The UK government is elaborating an Emissions Trading Scheme which will be complementary to the Climate Change Levy (CCL) introduced in the 2000 budget and to be implemented in April 2001. A consultation process has been launched with industry and a report was provided by the UK Emissions Trading Group in March 2000: "Outline Proposal for a UK Emissions Trading Scheme". The UK Emissions Trading Scheme is based on this proposal. It was presented in the paper "A Greenhouse Gas Emissions Trading Scheme for the United Kingdom", which was published with the countrys pre-budget report in November. The domestic emissions trading system has the following characteristics: - it is designed to include all six greenhouse gases identified in the Kyoto Protocol; - the system will be open to all companies operating in the UK who commit themselves to binding GHG emissions limits under the scheme; - the permits would be allocated for the period 2001-2012 and the allocation would be through grandfathering; - there are three categories of participants (those accepting targets, those accepting unit targets and those undertaking specific GHG reduction projects).
|This record is superseded by:||UK Emissions Trading Scheme|
|This record supersedes:||Emissions Trading Agreement|
Last modified: Thu, 14 Mar 2013 16:18:59 CET