Lord Gregory Barker, a former energy minister in the UK government under David Cameron, said that he became a “big fan” of an ETS during his time in office but that he was also a pragmatist when it comes to the implementation of a carbon price.
“It has been a long journey [for ETS] and it has a lot further to go - it’s not a silver bullet, by any means. But then, I don’t think there’s any silver bullet out there. And even with border taxes, which also have a compelling logic, a border adjustment also can be very complex,” he said during a keynote interview for the sustainability day of the Fastmarkets International Aluminium conference.
“We are pushing toward an international price on carbon, but you don’t want to unilaterally saddle individual economies too heavily with paying a price on carbon, unless there’s fair a way...
