'Net zero consistent': UK carbon allowances to be slashed by 12.4 per cent next year

Cecilia Keating
clock • 6 min read
The UK ETS applies to energy intensive industries, the power generation sector and aviation | Credit: iStock
Image:

The UK ETS applies to energy intensive industries, the power generation sector and aviation | Credit: iStock

Supply of allowances auctioned to high-carbon industries set to fall from 79 million in 2023 to 24 million by 2030 under plans unveiled this morning

The government has set out a timeline for reducing the number of carbon allowances carbon intensive companies can buy through the UK Emissions Trading Scheme (UK ETS) between now and 2030. The plans,...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Carbon Trading

New Patch platform to streamline carbon credit sourcing and buying

New Patch platform to streamline carbon credit sourcing and buying

Carbon market platform unveils software designed to replace manual and fragmented workflows and aggregate hundreds of millions of available credits

clock 24 April 2025 • 2 min read
Could the UK emerge as a global hub for high integrity carbon markets?

Could the UK emerge as a global hub for high integrity carbon markets?

Government sets out new integrity principles in a bid to boost confidence in carbon and nature markets, as buyers warn of a squeeze on high quality credits that could see prices start to rise

Stuart Stone
clock 17 April 2025 • 10 min read
Reports: UK and EU seeking landmark carbon market deal

Reports: UK and EU seeking landmark carbon market deal

Reports suggest UK government is prepared to align with EU Emissions Trading Scheme as part of efforts to strengthen ties with Brussels and avoid threat of carbon border levies

James Murray
clock 17 April 2025 • 3 min read