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EU reaches first Brexit compromise in carbon market plan

December 2, 2017 by Rahul Rana

(Source: Bloomberg) The European Union and the U.K. reached the first compromise on Brexit in vote on a contingency plan for the world’s biggest emissions market. EU nations endorsed a measure to prevent the worst-case Brexit scenario for the Emissions Trading System, where the market would be flooded by British carbon permits no longer needed by U.K. companies in the event negotiations for the country’s orderly withdrawal from the bloc crash. The plan offers Britain an option to avoid having its allowances made distinguishable while protecting the EU’s flagship climate program from a supply turmoil, according to the European Commission. Read full article…

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