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UK government presses ahead with new Emissions Trading System proposal
The UK government is increasing the country’s climate ambitions with new proposals showing how a new UK-wide Emissions Trading System (ETS) would work – putting a cost on carbon pollution to encourage polluters to reduce the amount of greenhouse gases (GHG) they emit.
The system would form a crucial step towards achieving the UK’s target for net zero carbon emissions by 2050. It includes plans to reduce the existing emissions cap by 5%, going further than the current EU system.
The new scheme would replace the EU Emissions Trading System, which the UK will leave at the end of this year as the transition period ends. Once the system is up and running, the government intends to go even further by amending the cap again in line with its net zero target.