Thread by @zeroc_official

It took a couple of weeks but we've (finally) finished reading @beisgovuk's long-awaited and extremely comprehensive consultation on developing the UK ETS.

Here are some headlines & reactions for those who don't quite have the band-width for the full 157 pages:

1/5.

https://twitter.com/danialsturge/status/1508387864085778450

Disappointingly, the Govt is proposing a much more piecemeal increase in the scope of the #UKETS than first mooted - with expansion limited to the domestic shipping and waste sectors only...2/5.

...bringing these sectors into the #carbonpricing system is, of course, welcome, but it represents a row-back on what was originally promised and is missed opportunity to address carbon pricing gaps in key high-emitting sectors like heat and buildings and road transport. 3/5.

Plans for introducing the #NetZero consistent cap are similarly restrained, with the Govt proposing for it to take effect in 2024 rather than 2023. 4/5.

This seems to us an unnecessary delay to the enforcement of an ambitious carbon-reducing trajectory, and a decision at odds with the urgency of action to address #ClimateChange and strengthen #EnergySecurity. 5/5.