Prices for allowances under the EU Emissions Trading System (ETS) have doubled since last June following key market reforms agreed by the EU institutions, helping to restore much-needed trust in the carbon market.
However, there is a risk that a hard Brexit without a transitional agreement between the UK and the EU could reverse the progress.
Lawrence Slade, chief executive of trade association Energy UK, told a hearing in the House of Lords in London on Wednesday that “the urgency is just increasing notch-by-notch”...
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