Politics
Energy Traders Urge Johnson to Link U.K. Carbon Market to EU
- Companies say linked carbon markets would benefit the climate
- Carbon pricing is central to both EU and U.K. climate goals
Smoke rises from a chimney stack at the steel works operated by Tata Steel Ltd. in Port Talbot.
Photographer: Chris Ratcliffe/Bloomberg
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Groups representing traders and the biggest industrial and energy companies in the U.K. and Europe called on British Prime Minister Boris Johnson to establish a link between the country’s nascent emissions trading program and that run by Brussels.
Cap-and-trade systems are at the heart of both British and European efforts to reduce carbon emissions in the coming decades. But with parallel markets post-Brexit, companies and traders worry that both systems will suffer.