Layla Moran, Lib Dem MP for Oxford West and Abingdon, voted against the regulations tabled by the Government which provide compensation to 13 companies for the indirect costs of the emissions trading system. She urged the Government to only provide these payments in return for legal requirements to do more to tackle climate change.
The motion allows the Government to authorise “sums exceeding £30 million and up to a total of £300 million” as compensation for the indirect costs of emissions trading. This money will go to 13 energy-intensive companies, including INEOS, who make money from fracking sites abroad, attempted to pursue fracking in the UK, and continues to be Scotland’s single largest emitter of CO2.
Layla Moran voted against the regulations after the debate on 8th December 2020, stating that “we need more rules in place” as the proposed regulations provide compensation with no conditions around climate change attached.
Layla Moran said: “The Government needs to be stepping up and taking a firmer stance on climate change. One minute they’re saying that leaving the EU will allow for more ambitious targets, and the next they are letting some of the biggest emitters get compensation without any further incentive.
“Of course, businesses need help to stay competitive as we move to a new emissions trading system after Brexit, but there needs to be strings attached for these companies. In exchange for the compensation, the companies should be required by law to do more to tackle climate change. This is a real opportunity missed. We need more rules in place so that we can secure people’s jobs while also taking active steps to reduce climate change. It shouldn’t be one or the other.”