On Monday, the British government said it would establish a domestic emissions trading scheme (UK ETS) from Jan. 1 to replace the current EU regime. It presented its long-awaited white paper on energy policy.
Britain exits the EU ETS at the end of the Brexit transition period and had previously said it might introduce either a domestic ETS or a carbon tax.
The White Paper on Energy also included 1 billion pounds ($1.3 billion) in funding for carbon capture and storage and 240 million pounds for a hydrogen fund.
