Carbon pricing is designed to reduce greenhouse gas emissions by increasing the cost of emitting them. One of the main carbon pricing mechanisms in the UK is the EU Emissions Trading Scheme, but it's likely that the UK will withdraw from the EU ETS when we leave the EU. The EU Energy and Environment Sub-Committee is therefore examining the carbon pricing options the Government has suggested for both 'deal' and 'no deal' scenarios, namely a domestic ETS linked to the EU ETS, and a Carbon Emissions Tax.