A coalition of 21 European energy giants and top investors have called upon leaders of Britain and the EU to preserve close links on both climate and energy policy after Brexit.
In a joint letter, sent to Brexit negotiators David Davis and Michel Barnier, the signatories said: “We welcome the intention for prioritisation of security and defence in the negotiations and also urge you to expand this commitment to combatting climate change.”
There are many unresolved energy-related issues arising from the UK’s imminent exit from the EU: What will happen with regard to trade law and tariffs? How will nuclear safety be regulated?
Brexit General
And then, perhaps the biggest concern: What about the UK’s membership of the EU emissions trading system for greenhouse gases? The signatories stress the need to keep climate change at the top of the agenda by maintaining the tenets of the Paris Agreement.
“The integration of energy markets and climate policies across Europe has enhanced energy and climate security and reduced energy bills in the UK and the EU 27. The Brexit negotiations should aim to ensure these benefits continue in the future.”
Signatories to the letter include Aviva, the Institutional Investors Group on Climate Change (IIGCC), a group of 150 activist investors with over €21 trillion in assets, and five of Europe’s largest energy companies: NPower, RWE, EDF, SSE and E.ON.