U.K. Chancellor Rishi Sunak’s Treasury is locked in a battle with Alok Sharma’s Business Department over how to ensure polluters pay for their emissions after Brexit.
The Treasury is pushing to replace the European Union’s cap-and-trade system with an economy-wide carbon tax, which would come into effect after Britain exits the bloc in January. The Department for Business, Energy and Industrial Strategy is drawing up a new emissions-trading system to start in January similar to the EU program that the U.K. currently participates in.
One person familiar with the debate predicted that an ETS was a likely option, and a hybrid is also being considered. A decision is expected soon. It is likely to be announced by Dec. 12, when Prime Minister Boris Johnson will co-host a United Nations meeting on climate action, where he is expected to reveal a new 2030
The current energy saving goals and renewable energy policy in EAS (East Asia Summit) countries will contribute to reducing fossil fuel consumption as well as CO2 emissions mitigation, a senior official from the Economic Research Institute for ASEAN and East Asia (ERIA) said.
|Special adviser (Energy Affairs) to ERIA President, Shigeru Kimura was speaking at the recent GECF Monthly Lecture Series on ‘EAS Energy Outlook’|
“Further, seeing the ASEAN transition from 2017 to 2050 … the region is actually increasing coal, increasing natural gas, and increasing oil, but the renewables only get a little bit rise. That is the ASEAN reality,” Kimura noted during the online lecture.