Member

On alignment with the EU ETS, the UK recognises the importance of international co-operation on carbon pricing. As we transition to net zero, it is clearly important that we work across international borders to drive climate ambition, maintain competitiveness and minimise the risk of carbon leakage. Under the terms of the trade and co-operation agreement, the UK Government and the EU agreed to consider linking our respective carbon pricing schemes and to co-operate on carbon pricing. Noble Lords will know that, on his recent visit to Brussels, the Prime Minister made a joint statement with President von der Leyen. We will take this strength and co-operation forward; I am sure that this measure could be part of that. As market convenors, we do not comment on carbon prices.