Response to the UK’s Consultation on Integrating Greenhouse Gas Removals (GGRs) in the UK ETS

London, 30th August 2024

Response to the UK’s Consultation on Integrating Greenhouse Gas Removals (GGRs) in the UK ETS

We recently responded to the UK Government’s Consultation on Integrating Greenhouse Gas Removals (GGRs) in the UK Emissions Trading Scheme (ETS).

We strongly support the integration of GGRs into the UK ETS as a crucial step towards achieving the UK’s ambitious #NetZero targets.

Giving UK companies access to a supply of high-quality GGRs will incentivise them to invest in carbon removal alongside advancing their own #decarbonisation strategies in line with the Paris Agreement goals.

We believe these core principles should guide the approach to integration:

🔑 Maintain the Incentive to Decarbonise: While supporting GGR integration, it is essential to preserve the incentive for emissions reduction.

🔑 Ensure Market Stability: Balancing GGR supply and demand is crucial for market stability and price signals.

🔑 Promote Simplicity and Fungibility: For maximum efficiency, GGRs should be easily integrated into the existing ETS framework.

At Carbonplace, we’re well placed to support this process by providing access to transparent data on the voluntary carbon market, including insights into how #CarbonCredits are utilised in compliance schemes.

As we move forward, we hope to see a flexible, market-driven approach to GGR integration and applaud the UK Government’s efforts to accelerate action. 👏

Learn more: https://lnkd.in/d5in_-b5

Media Contact 

Zoë Fillingham, Account Director, Browning Environmental Communications
Email: zoe@browningenvironmental.com
Phone: +44 7285 228 571