U.K. Tax Damages EU Carbon Market, Emissions Trading Lobby Says
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The U.K. tax on power generation from fossil fuels will hurt the European Union carbon market and distort the region’s economy, an emissions-trading group said.
“There is no question of the market cracking as a result of what the British have done,” said Henry Derwent, president of the Geneva-based International Emissions Trading Association and climate envoy for former U.K. Prime Minister Tony Blair.