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UK’s lower CO2 price doesn’t benefit exports to EU but does cut government’s revenues, consultancy says

By Stefano Porciello ( August 7, 2024, 15:59 GMT | Insight) -- Arguments for linking the Emissions Trading Systems of the UK and the EU have been presented in a report by Frontier Economics. According to the consultancy, the UK's lower CO2 permits price will grant no competitive advantage to British energy-intensive industries’ exports to the EU, due to the Carbon Border Adjustment Mechanism. Additionally, the paperwork burden and risk-management costs will increase and the UK government will forgo billions in revenue, the report says.UK energy-intensive industry and power exports to the EU may see no benefit from the country’s lower CO2 emission permit prices compared to those of the EU, according to a report by the consultancy Frontier Economics....

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