BP 47 – Can the UK Government be ‘world-leading’ in both trade and climate policy?
Download Briefing Paper 47 Briefing Paper 47 – September 2020 Emily Lydgate and Chloe Anthony Key Points Introduction Setting out a clear strategy Core legislation does not integrate trade-related emissions into the climate target UK Free Trade Agreements diverge in approach and ambition Acting on areas of ‘mutual supportiveness’ Fossil fuel subsidies are non-transparent A positive step for policy coherence: liberalisation of environmental goods Addressing areas of potential conflict Climate change mitigation subsidies in the global context Current UK climate change mitigation subsidies are not ambitious or transparent enough UK carbon pricing is still not high or consistent enough to meet the net-zero target Conclusion Key points To become a world leader in trade and climate policy the UK needs to develop an integrated strategy that enhances areas of mutual supportiveness and addresses areas of potential conflict. Enhancing mutual supportiveness: UK climate legislation does not currently include trade-related emissions. Factoring in aviation and shipping would help to address this problem. The UK’s approach to integrating climate into its new free trade agreements (FTAs), as well as its ‘continuity agreements’ with former EU FTA trade partners, is inconsistent. Notably, continuity agreements are a lost opportunity to update existing trade [...]
