Climate Change Bill [HL]

The Liberal Democrat Benches have been absolutely consistent. We are not in any way saying that there should be no trading. Trading will continue anyway, whatever goes on with the targets of this Bill. The amendment of the noble Baroness, Lady Miller, which we supported, said that by 2050, we should come down to zero trading in terms of counting it towards our emissions. But trading will continue anyway. The EU ETS just carries on trading; the flexible mechanisms of Kyoto will just carry on, whatever we use as a measurement here. We are being entirely consistent. We agree with trading entirely, but how much of it you can count towards a domestic target is a matter of political debate.