The EU is aiming to close a deal with the UK by the Nov. 20 summit that pairs food and agricultural trade rules with a link between their emissions trading systems. Trade commissioner Maroš Šefčovič told the European Parliament on Oct. 20 that the two tracks are being handled as a package. Separate talks on UK participation in the EU internal electricity market will continue beyond the summit. An ETS link would let allowances from the UK and EU systems be used in either market, which brings carbon prices closer together and can cut compliance costs for companies. It also gives both sides a reason to cooperate on energy and supply chain issues. The target is clear, but the technical work on market rules and enforcement still has to line up.
