Climate Change Bill [HL]

This debate has been a useful way of opening up the area. However, I wonder whether we would be better saying that the carbon units we were most interested in were those approved under the UN Kyoto agreement. I know that there can be a problem in pinpointing things too much, but at the moment the position is much too open. So far as I understand it, we are signed up to the EU ETS, and presumably we will be able to trade carbon units throughout the EU. The noble Lord, Lord Teverson, talked about a cap and trade system. I believe that some people reckon that European countries will be able to buy in energy reduction units from the joint implementation. But until we have a deeper understanding, I beg leave to withdraw the amendment. Amendment, by leave, withdrawn.