EU Emissions Trading System

Author: John Ferrier

PDF Published: Friday 05 Apr 2019 (SB 19-17)

Expand
Overview
Report

Hide

Hide

Overview
Report
- Executive Summary
- Introduction
  - Greenhouse Gases and Climate Change
  - International and National Action on Climate Change
  - Carbon Pricing
  - Carbon Taxes
  - Emissions Trading ('Cap and Trade') Schemes
  - What is the EU Emissions Trading System?
- History of the EU ETS
  - Phase 1 – Pilot Phase (2005-2007)
  - Phase 2 – First Kyoto Commitment Period (2008-2012)
  - Phase 3 – A Developed Emissions Trading System (2013–2020)
- Phase 3 and Domestic Implementation
  - Free Allocations and Benchmarks
  - Allowance Auctioning
  - Carbon Price Floor
  - Market Stability Reserve
- Phase 4 - Meeting 2030 Targets (2021-2030)
- The Legal Framework
- The EU ETS and Brexit
  - Post-Brexit Options
  - UK and Scottish Government Positions
  - Stakeholder Views
- Executive Summary
- Introduction
- History of the EU ETS
- Phase 3 and Domestic Implementation
- Phase 4 - Meeting 2030 Targets (2021-2030)
- The Legal Framework
- The EU ETS and Brexit
Sources

Image: Atmospheric CO2 over the past 400,000 years …

Image: Scottish Greenhouse Gas Emissions by Sector …

Image: Product Benchmarks …

Image: Annual Benchmark-Determined Allocations for Phase 3 …

Image: The Carbon Price Floor …

TNAC (Total Number of Allowances in Circulation) = Supply of Allowances - Demand

Image: Functioning of the Market Stability Reserve …

Image: Net Scottish Emissions Account …

Intergovernmental Panel on Climate Change. (2014, November 1). Climate Change 2014 Synthesis Report. Retrieved from https://www.ipcc.ch/site/assets/uploads/2018/02/SYR_AR5_FINAL_full.pdf [accessed 12 March 2019]

CBI Scotland. (2017, May 30). CBI Scotland Submissions to the Consultation on the Scottish Government’s Draft Scottish Energy Strategy. Retrieved from https://consult.gov.scot/energy-and-climate-change-directorate/draft-energy-strategy/consultation/view_respondent?show_all_questions=0&sort=submitted&order=ascending&_q__text=CBI&uuId=853074580 [accessed 12 March 2019]

Ecometrica. (2012, August). Greenhouse Gases, CO2, CO2e, and Carbon: What Do All These Terms Mean?. Retrieved from https://ecometrica.com/assets/GHGs-CO2-CO2e-and-Carbon-What-Do-These-Mean-v2.1.pdf [accessed 12 March 2019]

NASA. (2018, November). Vital Signs, Carbon Dioxide. Retrieved from https://climate.nasa.gov/vital-signs/carbon-dioxide/ [accessed 12 March 2019]

The Royal Society. (n.d.) The Basics of Climate Change. Retrieved from https://royalsociety.org/topics-policy/projects/climate-change-evidence-causes/basics-of-climate-change/ [accessed 12 March 2019]

European Environment Agency. (2017, December 14). Atmospheric Greenhouse Gas Concentrations. Retrieved from https://www.eea.europa.eu/data-and-maps/indicators/atmospheric-greenhouse-gas-concentrations-10/assessment [accessed 12 March 2019]

Intergovernmental Panel on Climate Change. (2018, October 8). Special Report on Global Warming of 1.5°C. Retrieved from https://www.ipcc.ch/sr15/ [accessed 12 March 2019]

United Nations Framework Convention on Climate Change. (2015, December 12). Paris Agreement. Retrieved from https://unfccc.int/sites/default/files/english_paris_agreement.pdf [accessed 12 March 2019]

UK Government. (2018, September 14). UK showcases climate change efforts at global summit. Retrieved from https://www.gov.uk/government/news/uk-showcases-climate-change-efforts-at-global-summit [accessed 12 March 2019]

Committee on Climate Change. (n.d.) Global action on climate change. Retrieved from https://www.theccc.org.uk/tackling-climate-change/the-legal-landscape/global-action-on-climate-change/ [accessed 12 March 2019]

United Nations Framework Convention on Climate Change. (n.d.) About the Secretariat. Retrieved from https://unfccc.int/about-us/about-the-secretariat [accessed 12 March 2019]

United Nations. (1992, May 9). United Nations Framework Convention on Climate Change. Retrieved from https://unfccc.int/resource/docs/convkp/conveng.pdf [accessed 12 March 2019]

United Nations. (1997, December 11). Kyoto Protocol to the United Nations Framework Convention on Climate Change. Retrieved from https://unfccc.int/resource/docs/convkp/kpeng.pdf [accessed 12 March 2019]

United Nations Framework Convention on Climate Change. (n.d.) What is the Kyoto Protocol?. Retrieved from https://unfccc.int/process-and-meetings/the-kyoto-protocol/what-is-the-kyoto-protocol/what-is-the-kyoto-protocol [accessed 12 March 2019]

European Commission. (n.d.) EU Climate Action. Retrieved from https://ec.europa.eu/clima/citizens/eu_en [accessed 12 March 2019]

European Commission. (2018, November 28). A Clean Planet for all A European strategic long-term vision for a prosperous, modern, competitive and climate neutral economy. Retrieved from https://ec.europa.eu/clima/sites/clima/files/docs/pages/com_2018_733_en.pdf [accessed 12 March 2019]

UK Government. (2008, November 26). Climate Change Act 2008. Retrieved from https://www.legislation.gov.uk/ukpga/2008/27/pdfs/ukpga_20080027_en.pdf [accessed 12 March 2019]

Committee on Climate Change. (n.d.) Carbon Budgets: How We Monitor Emissions Targets. Retrieved from https://www.theccc.org.uk/tackling-climate-change/reducing-carbon-emissions/carbon-budgets-and-targets/ [accessed 12 March 2019]

UK Government. (2009, June 24). Climate Change (Scotland) Act 2009. Retrieved from https://www.legislation.gov.uk/asp/2009/12/contents [accessed 12 March 2019]

Scottish Parliament. (2018, May 23). Climate Change (Emissions Reduction Targets) (Scotland) Bill. Retrieved from https://www.parliament.scot/parliamentarybusiness/Bills/108483.aspx [accessed 12 March 2019]

rantham Research Institute on Climate Change and the Environment. (2018, May 17). What is a Carbon Price and Why Do We Need One?. Retrieved from http://www.lse.ac.uk/GranthamInstitute/faqs/what-is-a-carbon-price-and-why-do-we-need-one/ [accessed 12 March 2019]

The Guardian. (2012, July 2). What is the ‘Polluter Pays’ Principle?. Retrieved from https://www.theguardian.com/environment/2012/jul/02/polluter-pays-climate-change [accessed 12 March 2019]

House of Commons Library. (2018, January 8). Carbon Price Floor (CPF) and the Price Support Mechanism. Retrieved from https://researchbriefings.parliament.uk/ResearchBriefing/Summary/SN05927#fullreport [accessed 12 March 2019]

Carbon Pricing Leadership Coalition. (2017, May 29). Report of the High-Level commission on Carbon Prices. Retrieved from https://static1.squarespace.com/static/54ff9c5ce4b0a53decccfb4c/t/59b7f2409f8dce5316811916/1505227332748/CarbonPricing_FullReport.pdf [accessed 12 March 2019]

Carbon Pricing Leadership Coalition. (n.d.) What is Carbon Pricing?. Retrieved from https://www.carbonpricingleadership.org/what/ [accessed 12 March 2019]

Grantham Research Institute on Climate Change and the Environment. (2018, June 11). How Do Emissions Trading Systems Work?. Retrieved from http://www.lse.ac.uk/GranthamInstitute/faqs/how-do-emissions-trading-systems-work/ [accessed 12 March 2019]

Ellerman, A., Joskow, P.L., & Harrison, Jr., D. (2003, May). Emissions Trading in the U.S.. Retrieved from http://web.mit.edu/globalchange/www/PewCtr_MIT_Rpt_Ellerman.pdf [accessed 12 March 2019]

Newell, R.G., & Rogers, K. (2003, June). The U.S. Experience with the Phasedown of Lead in Gasoline. [accessed 12 March 2019]

31. United States Environmental Protection Agency. (2018, April 3). Acid Rain Program. Retrieved from https://www.epa.gov/airmarkets/acid-rain-program [accessed 12 March 2019]

United States Environmental Protection Agency. (2017, January 3). Clean Air Act Overview. Retrieved from https://www.epa.gov/clean-air-act-overview/clean-air-act-text [accessed 12 March 2019]

University College London. (n.d.) The Place of the UK Emissions Trading Scheme in the UK Climate Change Programme. Retrieved from https://www.ucl.ac.uk/~uctpa15/uk_ets_info.htm [accessed 12 March 2019]

Robinson, J., Barton, J., Dodwell, C., Heydon, M., & Milton, L. (2007). Climate Change Law: Emissions Trading in the EU and the UK. Retrieved from https://books.google.co.uk/books?id=2ML3LBAGWb0C&printsec=frontcover#v=onepage&q&f=false [accessed 12 March 2019]

National Audit Office. (2004, April 21). The UK Emissions Trading Scheme: A New Way to Combat Climate change. Retrieved from https://www.nao.org.uk/report/the-uk-emissions-trading-scheme-a-new-way-to-combat-climate-change/ [accessed 12 March 2019]

European Commission. (n.d.) EU Emissions Trading System (EU ETS). Retrieved from https://ec.europa.eu/clima/policies/ets_en [accessed 12 March 2019]

New Zealand Ministry for the Environment. (n.d.) About the New Zealand Emissions Trading Scheme. Retrieved from http://www.mfe.govt.nz/climate-change/new-zealand-emissions-trading-scheme/about-nz-ets [accessed 12 March 2019]

Republic of Korea. (2017, December 12). Greenhouse Gas Emissions Trading Scheme. Retrieved from http://eng.me.go.kr/eng/web/index.do?menuId=450 [accessed 12 March 2019]

California Air Resources Board. (2018, February 27). Cap-and-Trade Program. Retrieved from https://www.arb.ca.gov/cc/capandtrade/capandtrade.htm [accessed 12 March 2019]

Government of Quebec. (n.d.) A Brief Look at the Quebec Cap-and-Trade-System for Emission Allowances. Retrieved from http://www.environnement.gouv.qc.ca/changements/carbone/documents-spede/in-brief.pdf [accessed 12 March 2019]

41. International Carbon Action Partnership. (2019, January 25). ETS Detailed Information: China. Retrieved from https://icapcarbonaction.com/en/?option=com_etsmap&task=export&format=pdf&layout=list&systems[]=55 [accessed 12 March 2019]

UK Government. (2018, December 31). Participating in the EU Emissions Trading System (EU ETS). Retrieved from https://www.gov.uk/guidance/participating-in-the-eu-ets [accessed 12 March 2019]

European Commission. (2015). EU ETS Handbook. Retrieved from https://ec.europa.eu/clima/sites/clima/files/docs/ets_handbook_en.pdf [accessed 12 March 2019]

Scottish Environment Protection Agency. (n.d.) EU Emissions Trading System. Retrieved from https://www.sepa.org.uk/regulations/climate-change/eu-emissions-trading-system/ [accessed 12 March 2019]

European Union. (2018, March 19). Directive (EU) 2018/410. Retrieved from https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32018L0410&from=EN [accessed 12 March 2019]

UK Government. (2018, November 25). Withdrawal Agreement and Political Declaration. Retrieved from https://www.gov.uk/government/publications/withdrawal-agreement-and-political-declaration [accessed 12 March 2019]

Business, Energy and Industrial Strategy Committee. (2017, May 2). Leaving the EU: negotiation priorities for energy and climate change policy. Retrieved from https://publications.parliament.uk/pa/cm201617/cmselect/cmbeis/909/909.pdf [accessed 12 March 2019]

UK Parliament. (2018, October 16). EU Emissions Trading Scheme:Written question - 180187. Retrieved from https://www.parliament.uk/business/publications/written-questions-answers-statements/written-question/Commons/2018-10-16/180187/ [accessed 12 March 2019]

Catapult Energy Systems. (n.d.) EU Emissions Trading System: Rethinking Decarbonisation Incentives – Policy Case Studies. Retrieved from https://es.catapult.org.uk/wp-content/uploads/2018/10/EU-ETS-Case-Study-FINAL.pdf [accessed 13 March 2019]

European Union. (2000, March 8). Green Paper on Greenhouse Gas Emissions Trading Within the European Union. Retrieved from https://publications.europa.eu/en/publication-detail/-/publication/41ab9f93-b438-41a6-b330-bb0491f6f2fd/language-en [accessed 13 March 2019]

United Nations Framework Convention on Climate Change. (n.d.) Mechanisms under the Kyoto Protocol. Retrieved from https://unfccc.int/process/the-kyoto-protocol/mechanisms [accessed 14 March 2019]

United Nations Framework Convention on Climate Change. (n.d.) The Clean Development Mechanism. Retrieved from https://unfccc.int/process-and-meetings/the-kyoto-protocol/mechanisms-under-the-kyoto-protocol/the-clean-development-mechanism [accessed 14 March 2019]

United Nations Framework Convention on Climate Change. (n.d.) Joint implementation. Retrieved from https://unfccc.int/process/the-kyoto-protocol/mechanisms/joint-implementation [accessed 14 March 2019]

United Nations Framework Convention on Climate Change. (n.d.) Emissions Trading. Retrieved from https://unfccc.int/process/the-kyoto-protocol/mechanisms/emissions-trading [accessed 14 March 2019]

European Commission. (2016). The EU Emissions Trading System (EU ETS). Retrieved from https://ec.europa.eu/clima/sites/clima/files/factsheet_ets_en.pdf [accessed 13 March 2019]

Oxford Academic. (2016, January 1). The European Union Emissions Trading System: Ten Years and Counting. Retrieved from https://academic.oup.com/reep/article/10/1/89/2583826 [accessed 13 March 2019]

Climate Policy Info Hub. (n.d.) The EU Emissions Trading System: an Introduction. Retrieved from https://climatepolicyinfohub.eu/eu-emissions-trading-system-introduction [accessed 13 March 2019]

European Union. (2004, November 13). Directive 2004/101/EC. Retrieved from https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32004L0101 [accessed 13 March 2019]

European Commission. (n.d.) Kyoto 1st commitment period (2008–12). Retrieved from https://ec.europa.eu/clima/policies/strategies/progress/kyoto_1_en [accessed 13 March 2019]

European Commission. (2007, October 7). Emissions trading: Commission announces linkage EU ETS with Norway, Iceland and Liechtenstein. Retrieved from http://europa.eu/rapid/press-release_IP-07-1617_en.htm [accessed 13 March 2019]

UK Government. (2010, October 11). Nitrous oxide (N2O) in the EU emissions trading system. Retrieved from https://www.gov.uk/government/consultations/nitrous-oxide-n2o-in-the-eu-emissions-trading-system [accessed 13 March 2019]

International Emissions Trading Association. (2015, May). 10 Years of Emissions Trading in Europe: Towards a New Beginning?. Retrieved from https://www.ieta.org/resources/EU/EUETS%20Paper%20May_FINAL.pdf [accessed 13 March 2019]

European Commission. (n.d.) Kyoto 2nd commitment period (2013–20). Retrieved from https://ec.europa.eu/clima/policies/strategies/progress/kyoto_2_en [accessed 13 March 2019]

European Union. (2010, November 18). Commission Regulation (EU) No 1031/2010. Retrieved from https://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2010:302:0001:0041:EN:PDF [accessed 13 March 2019]

European Commission. (n.d.) Union Registry. Retrieved from https://ec.europa.eu/clima/policies/ets/registry_en [accessed 13 March 2019]

European Commission. (n.d.) NER 300 programme. Retrieved from https://ec.europa.eu/clima/policies/innovation-fund/ner300_en [accessed 13 March 2019]

European Commission. (n.d.) Market Stability Reserve. Retrieved from https://ec.europa.eu/clima/policies/ets/reform_en [accessed 13 March 2019]

International Emissions Trading Association. (n.d.) The EU’s Emissions Trading System. Retrieved from https://www.ieta.org/resources/Resources/3_Minute_Briefings/phase%203%20eu%20ets_final.pdf [accessed 13 March 2019]

Policy Exchange. (2018). The Future of Carbon Pricing. Retrieved from https://policyexchange.org.uk/wp-content/uploads/2018/07/The-Future-of-Carbon-Pricing.pdf [accessed 13 March 2019]

Climate Policy Info Hub. (n.d.) Carbon Leakage and Industrial Innovation. Retrieved from https://climatepolicyinfohub.eu/carbon-leakage-and-industrial-innovation [accessed 13 March 2019]

European Commission. (n.d.) Auctioning. Retrieved from https://ec.europa.eu/clima/policies/ets/auctioning_en [accessed 13 March 2019]

Gtowacki Law Firm. (2017, December 21). EU ETS Product Benchmarks. Retrieved from https://www.emissions-euets.com/product-benchmarks [accessed 13 March 2019]

German Institute for Economic Research. (2017). Does the EU ETS Cause Carbon Leakage in European Manufacturing?. Retrieved from https://www.diw.de/documents/publikationen/73/diw_01.c.565609.de/dp1689.pdf [accessed 14 March 2019]

European Commission. (2014, October 27). Commission Decision (2014/746/EU). Retrieved from https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=CELEX:32014D0746 [accessed 14 March 2019]

European Commission. (n.d.) Carbon leakage. Retrieved from https://ec.europa.eu/clima/policies/ets/allowances/leakage_en [accessed 14 March 2019]

Carbon Market Watch. (2014, April 29). Carbon Leakage. Retrieved from https://carbonmarketwatch.org/2014/08/29/carbon-leakage/ [accessed 14 March 2019]

Carbon Market Watch. (n.d.) Carbon Leakage. Retrieved from https://carbonmarketwatch.org/2014/08/29/carbon-leakage/ [accessed 14 March 2019]

European Commission. (n.d.) Revision for phase 4 (2021-2030). Retrieved from https://ec.europa.eu/clima/policies/ets/revision_en [accessed 13 March 2019]

European Union. (2009, June 5). Directive 2009/29/EC. Retrieved from https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32009L0029&from=EN [accessed 13 March 2019]

European Commission. (2017, March). Analysis of the use of Auction Revenues by the Member States. Retrieved from https://ec.europa.eu/clima/sites/clima/files/ets/auctioning/docs/auction_revenues_report_2017_en.pdf [accessed 13 March 2019]

Gtowacki Law Firm. (2018, June 10). EU ETS New Entrant Reserve (NER). Retrieved from https://www.emissions-euets.com/carbon-market-glossary/959-new-entrant-reserve-ner [accessed 13 March 2019]

NER300.com. (2016). About. Retrieved from http://www.ner300.com/ [accessed 13 March 2019]

European Commission. (2017). Funding innovative low-carbon technologies: the NER 300 programme. Retrieved from https://ec.europa.eu/clima/sites/clima/files/docs/ner300_factsheet_en.pdf [accessed 13 March 2019]

Gtowacki Law Firm. (2017, June 15). Green certificates or quota support schemes. Retrieved from https://www.emissions-euets.com/internal-electricity-market-glossary/1066-green-certificates-or-quota-support-schemes [accessed 13 March 2019]

Ofgem. (2019). About the RO. Retrieved from https://www.ofgem.gov.uk/environmental-programmes/ro/about-ro [accessed 13 March 2019]

Ofgem. (2019). About the FIT scheme. Retrieved from https://www.ofgem.gov.uk/environmental-programmes/fit/about-fit-scheme [accessed 13 March 2019]

Sandbag. (2019). EUA Price. Retrieved from https://sandbag.org.uk/carbon-price-viewer/ [accessed 13 March 2019]

Croner-i. (2019). Climate Change Levy: In-depth. Retrieved from https://app.croneri.co.uk/topics/climate-change-levy/indepth [accessed 13 March 2019]

House of Commons Library. (2016, November 23). The Carbon Price Floor. Retrieved from https://influencemap.org/site/data/000/260/CBI_Parliament-Research-Briefing_UK-Carbon-Price-Floor_16-03-2017.pdf [accessed 13 March 2019]

Letter to George Osborne MP. (2014, February 18). Retrieved from https://web.archive.org/web/20140322233133/http:/www.cbi.org.uk/media/2602945/cbi_budget_submission_embargoed_3_march.pdf [accessed 13 March 2019]

University of Cambridge Energy Policy Research Group. (2018, June). When is a carbon price floor desirable?. Retrieved from https://www.eprg.group.cam.ac.uk/wp-content/uploads/2018/06/1816-Text.pdf [accessed 13 March 2019]

Carbon Brief. (2016, November 11). Autumn statement 2016: Key climate and energy announcements. Retrieved from https://www.carbonbrief.org/autumn-statement-2016-climate-energy-announcements [accessed 13 March 2019]

Which?. (2012, March 13). Scrap carbon tax – why pay more for a policy that won’t work?. Retrieved from https://conversation.which.co.uk/home-energy/carbon-tax-green-electricity-carbon-floor-price-budget/ [accessed 13 March 2019]

Market Stability Reserve (MSR). (n.d.) Retrieved from http://climateobserver.org/open-and-shut/market-stability-reserve-msr/ [accessed 13 March 2019]

Institute for Climate Economics. (2015, November). The EU ETS and the Market Stability Reserve. Retrieved from https://www.i4ce.org/wp-core/wp-content/uploads/2016/06/rapport-I4CE-chapitre-2.pdf [accessed 13 March 2019]

European Commission. (2018, May 15). ETS Market Stability Reserve will start by reducing auction volume by almost 265 million allowances over the first 8 months of 2019. Retrieved from https://ec.europa.eu/clima/news/ets-market-stability-reserve-will-start-reducing-auction-volume-almost-265-million-allowances_en [accessed 13 March 2019]

Sandbag. (2016, June). Stabilising the EU ETS’ Market Stability Reserve. Retrieved from https://sandbag.org.uk/wp-content/uploads/2016/10/Sandbag_Stablising_the_MSR.pdf [accessed 13 March 2019]

European Commission. (n.d.) 2030 climate & energy framework. Retrieved from https://ec.europa.eu/clima/policies/strategies/2030_en [accessed 13 March 2019]

European Union. (2018, March 13). Directive (EU) 2018/410. Retrieved from https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32018L0410&from=EN [accessed 13 March 2019]

European Commission. (2017, November 9). EU Emissions Trading System: landmark agreement between Parliament and Council delivers on EU's commitment to turn Paris Agreement into reality. Retrieved from https://ec.europa.eu/clima/news/eu-emissions-trading-system-landmark-agreement-between-parliament-and-council-delivers-eus_en [accessed 13 March 2019]

European Commission. (2015, October 9). Decision (EU) 2015/1814 of the European Parliament and of the Council of 6 October 2015 concerning the establishment and operation of a market stability reserve for the Union greenhouse gas emission trading scheme and amending Directive 2003/87/EC. Retrieved from https://eur-lex.europa.eu/legal-content/EN/TXT/?toc=OJ:L:2015:264:TOC&uri=uriserv:OJ.L_.2015.264.01.0001.01.ENG [accessed 27 March 2019]

The Oxford Institute for Energy Studies. (2018, September). The EU ETS phase IV reform: implications for system functioning and for the carbon price signal. Retrieved from https://www.oxfordenergy.org/wpcms/wp-content/uploads/2018/09/The-EU-ETS-phase-IV-reform-implications-for-system-functioning-and-for-the-carbon-price-signal-Insight-38.pdf [accessed 13 March 2019]

ETS Innovation Fund. (2016). About. Retrieved from http://ner400.com/ [accessed 13 March 2019]

European Parliament. (2018, May). Post-2020 reform of the EU Emissions Trading System. Retrieved from http://www.europarl.europa.eu/RegData/etudes/BRIE/2018/621902/EPRS_BRI(2018)621902_EN.pdf [accessed 13 March 2019]

European Commission. (2018, December 17). Report on the functioning of the European carbon market. Retrieved from https://ec.europa.eu/clima/sites/clima/files/ets/docs/com_2018_842_final_en.pdf [accessed 13 March 2019]

Carbon Tracker Initiative. (2018, April 13). Carbon Clampdown: Closing the Gap to a Paris-compliant EU-ETS. Retrieved from https://yoursri.com/media-new/2018-05-03_carbon-clampdown.pdf [accessed 13 March 2019]

Carbon Market Watch. (2017, December). Beyond the EU ETS: Strengthening Europe's Carbon Market Through National Action. Retrieved from https://carbonmarketwatch.org/wp/wp-content/uploads/2017/12/CMW-BEYOND-THE-EU-ETS-STRENGTHENING-EUROPE%E2%80%99S-CARBON-MARKET-THROUGH-NATIONAL-ACTION.pdf [accessed 13 March 2019]

European Union. (2003, October 25). Directive 2003/87/EC. Retrieved from https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32003L0087 [accessed 13 March 2019]

European Union. (2009, June 5). Directive 2009/29/EC. Retrieved from https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32009L0029 [accessed 13 March 2019]

UK Government. (1998, November 19). The Scotland Act (1998). Retrieved from https://www.legislation.gov.uk/ukpga/1998/46/contents [accessed 01 March 2019]

UK Government. (2016, March 23). Scotland Act (2016). Retrieved from http://www.legislation.gov.uk/ukpga/2016/11/enacted [accessed 01 April 2019]

UK Government. (2012, May 01). Scotland Act (2012). Retrieved from http://www.legislation.gov.uk/ukpga/2012/11/enacted [accessed 01 April 2019]

Scottish Parliament. (2018). The EU Emissions Trading Scheme (EU ETS) EU Exit Regulations. Retrieved from http://www.parliament.scot/S5_Environment/General%20Documents/20181002_Submission_on_consent_for_EU_ETS_EU_Exit_Regulation.pdf [accessed 01 April 2019]

UK Parliament. (2005, April 21). The Greenhouse Gas Emissions Trading Scheme Regulations 2005. Retrieved from http://www.legislation.gov.uk/uksi/2005/925/made [accessed 13 March 2019]

European Union. (2009, January 13). Directive 2008/101/EC. Retrieved from https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A32008L0101 [accessed 13 March 2019]

UK Parliament. (2010, August 31). The Aviation Greenhouse Gas Emissions Trading Scheme Regulations 2010. Retrieved from http://www.legislation.gov.uk/uksi/2010/1996/made [accessed 13 March 2019]

UK Parliament. (2013, January 1). The Greenhouse Gas Emissions Trading Scheme Regulations 2012. Retrieved from http://www.legislation.gov.uk/uksi/2012/3038/made [accessed 13 March 2019]

UK government. (2013, February 1). Regulatory guidance for installations: the greenhouse gas emissions trading scheme. Retrieved from https://www.gov.uk/government/publications/regulatory-guidance-for-installations-the-greenhouse-gas-emissions-trading-scheme [accessed 13 March 2019]

UK Government. (2013, December 23). EU ETS Phase III: guidance for installations. Retrieved from https://www.gov.uk/government/publications/how-to-comply-with-the-eu-ets-and-small-emitter-and-hospital-opt-out-scheme [accessed 13 March 2019]

Scottish Parliament. (2018, May 24). Climate Change (Emissions Reduction Targets) (Scotland) Bill. Retrieved from https://www.parliament.scot/S5_Bills/Climate%20Change%20(Emissions%20Reduction%20Targets)%20(Scotland)%20Bill/SPBill30S052018.pdf [accessed 13 March 2019]

Scottish Government. (2018, October 31). Scottish greenhouse gas emissions annual target report: 2016. Retrieved from https://www.gov.scot/publications/scottish-greenhouse-gas-emissions-annual-target-report-2016/pages/7/ [accessed 13 March 2019]

Sandbag. (2018, March 16). In or Out: Does Brexit mean the UK should leave the EU ETS?. Retrieved from https://sandbag.org.uk/2018/03/16/in-or-out-does-brexit-mean-the-uk-should-leave-the-eu-ets-2/ [accessed 13 March 2019]

UK Emisions Trading Group. (2017, March). Post Brexit UK climate policy options for UK installations and sectors covered by the EU ETS. Retrieved from http://www.etg.uk.com/documents/ETG%20Brexit%20options%20pros%20and%20cons%20paper.pdf [accessed 18 March 2019]

Vivid Economics. (2017, May). Brexit and the UK’s future climate policy: Principles and Options. Retrieved from http://www.vivideconomics.com/wp-content/uploads/2017/05/Brexit-and-UK-climate-policy-Vivid-Economics.pdf [accessed 13 March 2019]

Scottish Universities Legal Network on Europe (SULNE). (14, December 12). The implications of Brexit for environmental law in Scotland. [accessed 18 March 2019]

House of Commons Library. (2018, November 9). Brexit: energy and climate change. Retrieved from https://researchbriefings.parliament.uk/ResearchBriefing/Summary/CBP-8394 [accessed 13 March 2019]

Sandbag. (2017, May). Brexit & The EU ETS: Greater as the sum or in parts?. Retrieved from https://sandbag.org.uk/wp-content/uploads/2017/05/Brexit-and-EUETS-Final-Annexes.pdf [accessed 13 March 2019]

International Carbon Action Partnership. (2019, January 25). Swiss ETS. Retrieved from https://icapcarbonaction.com/en/?option=com_etsmap&task=export&format=pdf&layout=list&systems%5b%5d=64 [accessed 13 March 2019]

The German Institute for Economic Research. (2018, July 03). Linking Cap-and-Trade Systems. Retrieved from https://www.diw.de/en/diw_01.c.593319.en/press/diw_roundup/linking_cap_and_trade_systems.html [accessed 01 April 2019]

House of Lords Select Committee on the European Union. (2018, March 14). Corrected oral evidence: EU Emissions Trading Scheme. Retrieved from http://data.parliament.uk/writtenevidence/committeeevidence.svc/evidencedocument/eu-energy-and-environment-subcommittee/eu-ets/oral/80785.pdf [accessed 13 March 2019]

Grantham Research Institute on Climate Change and the Environment LSE. (2019, February 20). Written Evidence - Domestic ETS linked to the EU ETS. Retrieved from http://data.parliament.uk/writtenevidence/committeeevidence.svc/evidencedocument/eu-energy-and-environment-subcommittee/postbrexit-carbon-pricing/written/96743.html [accessed 13 March 2019]

House of Lords Select Committee on the European Union. (2019, February 27). Uncorrected oral evidence: Post-Brexit carbon pricing. Retrieved from http://data.parliament.uk/writtenevidence/committeeevidence.svc/evidencedocument/eu-energy-and-environment-subcommittee/postbrexit-carbon-pricing/oral/97462.html [accessed 13 March 2019]

Helm, D. (2017, October 25). Cost of Energy Review. Retrieved from https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/654902/Cost_of_Energy_Review.pdf [accessed 13 March 2019]

UK Government. (2018, November 25). Agreement on the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community, as endorsed by leaders at a special meeting of the European Council on 25 November 2018. Retrieved from https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/759019/25_November_Agreement_on_the_withdrawal_of_the_United_Kingdom_of_Great_Britain_and_Northern_Ireland_from_the_European_Union_and_the_European_Atomic_Energy_Community.pdf [accessed 13 March 2019]

UK Government. (2018, November 25). POLITICAL DECLARATION SETTING OUT THE FRAMEWORK FOR THE FUTURE RELATIONSHIP BETWEEN THE EUROPEAN UNION AND THE UNITED KINGDOM. Retrieved from https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/759021/25_November_Political_Declaration_setting_out_the_framework_for_the_future_relationship_between_the_European_Union_and_the_United_Kingdom__.pdf [accessed 13 March 2019]

Department for Business, Energy & Industrial Strategy. (2019, March 11). Meeting climate change requirements if there’s no Brexit deal. Retrieved from https://www.gov.uk/government/publications/meeting-climate-change-requirements-if-theres-no-brexit-deal/meeting-climate-change-requirements-if-theres-no-brexit-deal [accessed 13 March 2019]

HM Revenue & Customs. (2018, October 29). Carbon Emissions Tax. Retrieved from https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/752093/Carbon_Emissions_Tax_Sup_doc.pdf [accessed 13 March 2019]

Scottish Parliament Environment, Climate Change and Land Reform Committee. (2018, October 24). Official report - Wednesday 24 October 2018. Retrieved from http://www.parliament.scot/parliamentarybusiness/report.aspx?r=11740&mode=pdf [accessed 13 March 2019]

Scottish Government. (2019, March 1). UK-Devolved Administrations Ministerial Forum on EU Exit: Energy & Climate Change. Retrieved from https://www.parliament.scot/S5_EconomyJobsFairWork/General%20Documents/20190301-CabSec-ECCLR-MinECI-EU_Exit-Energy-CC.pdf [accessed 14 March 2019]

Scottish Government. (2019, April 01). CLIMATE CHANGE (EMISSIONS REDUCTION TARGETS)(SCOTLAND) BILL – STAGE 1 REPORT. Retrieved from https://www.parliament.scot/S5_Environment/General%20Documents/ECCLR_2019.04.01_RC_CCBill_Stage_1_report_response.pdf [accessed 01 April 2019]

Scottish Government. (2019, March 01). UK-Devolved Administrations Ministerial Forum on EU Exit: Energy & Climate Change. Retrieved from https://www.parliament.scot/S5_EconomyJobsFairWork/General%20Documents/20190301-CabSec-ECCLR-MinECI-EU_Exit-Energy-CC.pdf [accessed 01 April 2019]

Scottish Government. (2018, June 12). Scottish greenhouse gas emissions 2016. Retrieved from https://www.gov.scot/publications/scottish-greenhouse-gas-emissions-2016/pages/4/ [accessed 14 March 2019]

UK Parliament. (2016, September 16). Written evidence submitted by the Scotch Whisky Association (EUC0014). Retrieved from http://data.parliament.uk/writtenevidence/committeeevidence.svc/evidencedocument/energy-and-climate-change-committee/leaving-the-eu-implications-for-uk-climate-policy/written/35982.pdf [accessed 14 March 2019]

UK Parliament. (2016, October 11). Written evidence submitted by the Scotch Whisky Association (EUE0017). Retrieved from http://data.parliament.uk/writtenevidence/committeeevidence.svc/evidencedocument/energy-and-climate-change-committee/leaving-the-eu-implications-for-uk-energy-policy/written/37949.pdf [accessed 14 March 2019]

Last Updated: 2/11 9:37am