Henry Lush

I cover the European Union Emissions Trading Scheme (EU ETS) at Veyt, which is one of the most ambitious, long-standing climate policies that exists. The core of my work is policy analysis. Digging into details and drawing on historical data, I work closely with the wider team to test our assumptions and any potential shortcomings in our models.

I am leading on our early efforts to establish a model for how free allocation and planning will change as the Carbon Border Adjustment Mechanism (CBAM) comes into force. My objective is to make models as accurate as possible by establishing a baseline, producing multiple scenarios, checking assumptions, and revising, as necessary. Through this, I provide clarity on the costs associated with different strategies. My work often requires talking with multiple stakeholders, and actively contributing to discussions on how the EU ETS market can be improved.

Overall, I am driven by a desire to equip industry with quality data and actionable insights that will help in making effective abatement decisions. Carbon pricing can sometimes be seen as a tax burden, but this misses the wider point that emissions trading is designed to be as flexible as possible. The green shift must take place and the longer we wait the more it will hurt.

Working at Veyt allows me to work in environmental politics and climate policy, as I have always wanted to do. Whilst working towards my Master of Public Administration at the University of Bergen, I knew I wanted to do something practical and directly impactful. My thesis focused on the policy processes for updating the carbon leakages methodologies within the EU ETS. The complexity in carbon markets also attracted me, and I believe the EU ETS offers a nuts-and-bolts approach to reducing emissions. It is fascinating to see the policy design processes and industry buy-in central to the EU’s carbon market.

Broadly there is a lot of confusion around carbon markets. To engage with them, one needs to have an overview of policy processes, climate targets, finance, and energy markets. At Veyt, my job is to consider all these drivers and produce data, analysis, and insights that benefit clients and the market, whilst contributing to accelerating the energy transition.