U.K. Drops Potential Carbon Tax as ETS Set to Begin

The U.K. government confirmed it won’t go ahead with a tax on carbon emissions because of its decision to use an emissions trading system, according to publication from the Treasury.

• NOTE: U.K. had considered both a carbon tax and an ETS as possibilities to replace the country’s participation in the EU ETS after Brexit
• On Tuesday, the government published responses to a consultation completed last year on the carbon tax proposal
• READ, Feb. 29: ICE to Launch U.K. Carbon Auctions and Futures From May 19

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William Mathis in London at wmathis2@bloomberg.net

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