The U.K.’s withdrawal from the E.U. raises various issues of legal uncertainty relating to the E.U. Emissions Trading Scheme (the “E.U. ETS”) and the European emissions allowances (“EAUs”), whether the U.K. leaves the E.U. ETS from the date of exit (as is expected in the event of a hard Brexit) or stays in the E.U. ETS until the end of 2020. The FMLC has published a paper examining these issues of legal uncertainty.
The paper is available here.