DEFINITION: A market-based ‘cap and trade’ on emissions that allows parties to buy and sell permits for emissions or credits. The ETS covers 45% of the greenhouse gas (GHG) emissions emitted from energy-intensive sectors. In the UK, more than 700 UK-based energy intensive installations, including power stations, manufacturing facilities and oil refineries, participate in the system.
Emissions Trading System (ETS)
In action: Anesco's subsidy-free solar farm supported by a storage floor price
Renewable energy firm Anesco is working with EDF Energy and it's tech partner, Upside Energy, to introduce an industry-first guaranteed floor price for revenue from the battery storage units operating at the first subsidy-free solar development in the UK.
Ovo Energy boss kick-starts campaign for general carbon charge
Ovo Energy's chief executive and founder Stephen Fitzpatrick has launched a new campaign aimed at bolstering the UK's emissions policies on the road to net-zero.
Official EU petition calls for minimum carbon price
The European Commission has registered an official petition that calls on the EU executive to set up a minimum carbon price, "discourage the consumption of fossil fuels" and keep global warming to below 1.5C.
Ryanair becomes first non-coal company to rank among Europe's top ten carbon emitters
Irish airline Ryanair was the EU's ninth highest corporate carbon emitter in 2018, making it the first corporate without holdings in coal-fired power plants to ever rank within the bloc's top 10 most emitting firms.
CCC advises government against rolling over carbon budget surplus
The Committee on Climate Change (CCC) has issued "unequivocal advice" to the government not to carry forward an emissions surplus from the second carbon budget to subsequent accounting periods.