Statement
The Government is taking ambitious domestic action to tackle climate change and recently opened a consultation on developing the UK Emissions Trading Scheme (ETS), so the UK can become the world’s first net zero carbon cap and trade market[1]. While domestic action is critical, climate change is a global issue. When the UK took on the COP26 Presidency, only 30% of the world was covered by net zero targets – now over 90% of the global economy is committed to net zero. In 2021, the UK placed climate change and nature at the top of the international agenda during its G7 and COP26 presidencies, presiding over the agreement of the Glasgow Climate Pact, to speed up the pace of climate action.
Read more: Update on carbon leakage mitigations
