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« The 97% in Parliament | Main | Worse than they thought »

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DECC have just published their latest policy paper on emissions trading with their fingers in their ears. "The UK believes"...really? TM

The UK believes the EU ETS, the world’s largest cap and trade system, should remain the cornerstone of EU energy and climate change policy. The centrality of the EU ETS in delivering the objectives of the 2030 framework was highlighted by the European Council in March 2014.

The UK’s vision for the future of the EU ETS is for a System that:

  • delivers EU emissions reductions consistent with meeting the long-term EU objective of reducing greenhouse gas emissions by 80%-95% by 2050 at least cost, including a 2030 emissions reduction target of 40% moving to 50% in the event of an ambitious global deal, including by driving investment in the low carbon economy
  • is designed in such a way that energy-intensive industries remain competitive during the transition to a global low-carbon economy, adequately protecting them from the risk of carbon leakage so that they can adjust over the longer term
  • demonstrates global leadership through delivery of an effective and economically efficient emissions trading scheme, ready to link with all suitable ETSs as the foundation of a global carbon market

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Reader Comments (15)

We pay for this garbage. What the **** is "carbon leakage"? Why should a country that gave the world the industrial revolution want to lead the world down the path of economic destruction?

The sooner we get rid of this Government, get rid of DECC and get out of the EU, the better.

I note that at the bottom of the DECC page it says "Is there anything wrong with this page?" How does one answer that when everything on the page is a load of b******s?

Oct 21, 2014 at 8:23 AM | Registered CommenterPhillip Bratby

"risk of carbon leakage" ... what is that?

And given it's considered a "risk", what is its probability, what happens if the "risk" becomes true, e.g. what is it that "protects" industry's competitiveness?

Sounds wooly to me, and they are controlling the wrong molecule.

Oct 21, 2014 at 8:23 AM | Unregistered CommenterRob Schneider

You're only a leader if people actually follow you. Sensible people won't be following you off a cliff however.

Oct 21, 2014 at 8:24 AM | Unregistered CommenterJamesG

If this is progress then civilisation is finished. The problem with DECC is that if you tell a lie often enough you start to believe it yourself. They will not be disbanding themselves and probably won't go without a fight either. Is there a politician brave enough to take on not only DECC but also Greenpeace and FoE given their penchant for hysteria and at the margin, mild terrorism?

Oct 21, 2014 at 8:43 AM | Unregistered CommenterFarleyR

Not even a CSE would be awarded to a chemistry student who consistently mixed up carbon with carbon dioxide.

Oct 21, 2014 at 8:58 AM | Unregistered CommenterJoe Public

This is the reason they keep telling ridiculous lies about the climate system. A multi trillion dollar banking scam.

Jail the fraud deniers.

Oct 21, 2014 at 8:59 AM | Unregistered Commenteresmiff

Why are we in Britain so lucky ? Why are we the Special Ones ?

Paven Sukhdev, a career banker for Deutsche Bank who now works on the issue for the UN and EU, argues that at least 65% of reductions must be made within developed countries. That means firms such as AEP may still be limited in how much they can invest in projects abroad. Firms in developing countries may not have to buy credits at all. That has led to worries in the City that there won't be enough money to buy all the forest carbon. London's financial centre is the main home to the incipient global carbon market. Prof Heal believes that in a decade, the trade could be worth trillions of dollars.

Oct 21, 2014 at 9:05 AM | Unregistered Commenteresmiff

The report was produced by Ecofys UK Ltd. and Oxford Energy Associates and peer reviewed by: Dr. Herman Vollebergh (Erasmus University, Rotterdam)

I guess you get what you pay for, but I'm not sure why a person from the Department of Sustainable Development in the Netherlands Environmental Assessment Agency should be reviewing policy documents for the British Government. Does the Ministry of Defence also farm out it's internal decision making to agents of foreign countries? Perhaps I'm a bit naïve.

Oct 21, 2014 at 10:59 AM | Unregistered Commentermichael hart

" the event of an ambitious global deal."....
Whatever the outcome of Lima (2014) and Paris ( 2015), you can be sure they will be another " historic breakthrough".
Oh for Lewis Carroll to write his ultimate work, " Rajendra through the Looking Glass".

Oct 21, 2014 at 12:36 PM | Unregistered CommenterHerbert

The UK 'demonstrates global leadership' in the manufacture of chocolate teapots...

And anyway - yes, what the hell is 'carbon leakage'..? Have they got the foggiest idea as to what they are saying..?

Oct 21, 2014 at 1:09 PM | Unregistered Commentersherlock1

"from a high of about €30 per tonne in 2008, prices are now languishing at €6" on the EU ETS
- 1MWh from coal gives less than 2 tonnes of CO2, so it costs you €12 to mitigate that CO2
... like the celebrity hippies* do by giving the money to another country/corrupt_mafia who pretend to plant forest.
* known as greenBigFoots for their enormous consumption/carbon_footprint

- So for any renewable project if the subsidies are more than €12 per each MWh, then the taxpayers money is being spent badly. (ie coal generation costs £40+€12mitigation but for offshore wind we pay £150 plus inefficiency costs as well)

- However a positive sign is that the DECC blog guy didn't censor your BHers comments and actually replied

Oct 21, 2014 at 1:26 PM | Registered Commenterstewgreen

Last time I looked all forms of "carbon", be it graphite, diamond, or graphene, were solids at room temperature.

I'm confused about "carbon leakage".

Maybe a politician with a degree in English, Law, PPE, or History could explain "carbon leakage" to me?

Oct 21, 2014 at 1:41 PM | Unregistered CommenterDon Keiller

"What the **** is "carbon leakage"?"

Simple - it's a burglar walking off with the family diamonds. Just like the government with peoples' money.

Oct 21, 2014 at 2:24 PM | Registered Commenterdavidchappell

Of course is all timed for gee-ing up the troops before the meeting in a few days time where some in the EU will once again try to fix an already rigged and wholly artificial market.

A week ago the Financial Times started an article on it with "Since 2008, Europe’s carbon market has shown symptoms of terminal decline." Which is good.

[Article paywalled, but 3 free articles per month available with registration]

Oct 21, 2014 at 2:31 PM | Unregistered Commentermichael hart

..and 'protecting energy intensive industries' means the public taxpayers forking out AGAIN. Not only will we be paying over the odds or our own electricity we'll be paying over the odds for other peoples too.

Oct 21, 2014 at 7:49 PM | Unregistered CommenterDave_G

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