A new limit on emissions for the power sector and aviation industries will come into force next year it has been announced.
On Monday, the government said that under net zero rules, a limit for industries will be required “from selected high energy industries” from 2024.
The announcement forms part of a package of reforms by the UK Emissions Trading System Authority (UK ETS).
The UK ETS is a scheme that incentivises decarbonisation “through a process of buying and selling emissions allowances, which companies must obtain for every tonne of emissions they produce each year.”
Companies that are successful in reducing their emissions “can sell unused allowances to other firms.”…