UK Government Commits To Fifth Carbon Budget Following UK Brexit Vote

Author:Mr Chris Papanicolaou
Profession:Jones Day
 
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The UK referendum vote on June 23, 2016, to leave the European Union has led the House of Commons Energy and Climate Change Committee to ask questions as to how this will affect the "UK position with respect to existing EU pledges and policies, and its future interaction with the EU bloc to fight climate change." UK climate change policy to date has seen stand-alone national initiatives as well as collaborative international policies being adopted. 

At the same time, and in light of the 2015 Paris Agreement requirements, the European Commission is considering how the impact of Brexit may lead to a revisiting of individual Member States contributions to meet the EU's target of cutting emissions to at least 40 percent by 2030 from 1990 levels. Until it formally ceases to be a member of the EU, which is not expected to happen for at least two years, and possibly no earlier than 2019, the United Kingdom continues to be bound by and must comply with applicable EU obligations. At a time when the United Kingdom's overall share of carbon allowances has not yet been agreed at the EU level for the purposes of the EU 2030 Paris Agreement commitment, it is notable that the...

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