Scottish Renewables has welcomed the announcement made by the UK Government and the European Union that they have agreed to enter negotiations to link their respective Emissions Trading Schemes (ETS).

The industry body suggests that this move could offer substantial advantages for both regions in their pursuit of a clean and secure energy system, while also supporting industrial competitiveness and removing barriers to UK-EU trade.

Andrew MacNish Porter, Head of Economics and Markets at Scottish Renewables, commented on the development: "The renewable energy industry has been calling for closer cooperation between the UK and EU by linking their respective emissions trading schemes and today's announcement is a welcome commitment to achieve the significant benefits this will deliver.

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"A recent report has indicated that linking the two schemes could provide shared benefits to the UK and EU including savings of up to €770 million by 2030 while boosting investment and enabling the delivery of clean energy projects. At a time of increased global competition for clean power investment, linking the UK and EU's emission trading schemes will bolster our shared energy security and help preserve Scotland's reputation as an attractive place to build green energy infrastructure."

The potential linkage aims to create a more integrated carbon market, which proponents argue would drive down emissions more efficiently, provide greater certainty for investors, and foster increased collaboration on climate action between the UK and the EU.