Commons Sense

House of Commons · Written Ministerial Statement

Update on carbon leakage mitigations

16 May 2022 · Treasury

Proposed by Lucy Frazer Con South East Cambridgeshire

ClimateEnvironment

Summarised by AI from the official record, so it can contain mistakes.

View on Parliament.uk

At a glance

Key points

  • Update on carbon leakage mitigations discussed in a Written Ministerial Statement
  • Lucy Frazer, MP for South East Cambridgeshire, presented the statement
  • Government plans to consult on carbon leakage mitigation options, including product standards and a CBAM later in 2022

Issue summary

The statement discusses measures to mitigate carbon leakage as the UK transitions towards net zero emissions.

Action requested

The Government intends to consult later in the year on a range of carbon leakage mitigation options, including product standards and a carbon border adjustment mechanism (CBAM).

Key facts

  • The UK is developing its Emissions Trading Scheme (ETS) to become the world’s first net zero carbon cap and trade market.
  • During the COP26 presidency in 2021, over 90% of the global economy committed to net zero targets.
  • Government is considering domestic action to mitigate future carbon leakage risk through policies such as product standards and a CBAM.
▸ Assessment & feedback
Summary accuracy