U.K. Confirms Plans to Support Carbon Prices After Brexit
- Britain drafting laws on emissions trade and alternative tax
- Nation extends higher prices into 2022 as it targets net zero
Photographer: Chris Ratcliffe/Bloomberg
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The U.K. signaled it would continue to support higher carbon prices after Brexit than those in mainland Europe.
The nation said it planned to draw up a law to create a U.K. carbon market once it leaves the European Union emissions trading system at the end of this year, according to budget documents. It’s seeking to link that program to the existing EU market and it also plans to extend its own policy to support even higher carbon prices, into 2022.