On 23 February 2022, the European Commission published its draft Data Act, a proposal for a regulation of access to and use of data, in particular data generated by IoT devices and related services. The Data Act is primarily intended to unlock the value of data by increasing the extent… Read More
In response to Ofwat’s proposed a methodology for estimating the risk-free rate (RFR) for PR24, this report presents an alternative methodology that is rigorous and aligned with previous decisions made by the Competition and Markets Authority (CMA) in its redetermination for the PR19 price control. The report first reviews the… Read More
The UK’s participation in the European Geostationary Navigation Overlay Service (EGNOS) Programme ended on 25 June 2021, leading to a withdrawal of legal indemnity for the use of EGNOS. EGNOS improves the integrity and precision of GPS services. In particular, the EGNOS safety-of life (SoL) service is used in safety-critical… Read More
With the debate about the costs of market data in equity trading markets, this note summarises and clarifies the issues being raised, checks the main facts, and explains how to assess market data from a public policy perspective. Read More
The European Commission has put forward the Fit for 55 proposals to achieve a 55% reduction in carbon emissions by 2030 relative to 1990 levels, and to meet net zero targets by 2050. In particular, to address the aviation sector’s impact on the environment, the European Commission has proposed mandating… Read More
The emergence of global targets to decarbonise have brought with them increased scrutiny of transport and of aviation in particular. One proposed means of reducing greenhouse gas emissions from transport is a modal shift from air to rail. This has been encouraged both through investment in rail infrastructure, and… Read More
For the UK to achieve its net zero ambitions and obligations under the Paris Agreement, all sectors will be required either to reduce or to offset their emissions. Some sectors that are inherently difficult to decarbonise completely, such as heavy industry, agriculture and aviation, will only be able to… Read More
There have been extensive travel restrictions in place across Europe over the last two years, ranging from mandatory quarantines to pre-departure testing and on-arrival testing. Despite these travel restrictions, Europe has experienced significant waves of COVID-19. While the current wave of infections associated with the Omicron variant is subsiding… Read More
In the context of a rapid increase in energy and carbon prices over the past 18 months, questions have emerged around the functioning of the EU carbon market. The European Union’s Emissions Trading Scheme is a cornerstone of the EU’s policy to combat climate change and a key tool for… Read More
What is the purpose of a business? Recent years have seen growing social, political and market pressures on business leaders to go beyond simply creating short-term value for shareholders. Concepts such as ‘responsible capitalism’, ‘stakeholderism’ and ‘sustainable business models’ have become increasingly prevalent. The drivers of this change in mindset… Read More
