Britain proposes domestic emissions trading scheme from Jan 1

The British government said on Monday it will establish a domestic emissions trading scheme (UK ETS) from Jan. 1 to replace the current EU regime, as 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 may 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.