UK Energy Giants Back Carbon Trading Over Carbon Tax

Leading energy companies have urged the UK to embrace carbon trading after the Brexit transition period concludes and not adopt a carbon tax instead. In a letter to Boris Johnson, the group, which includes firms such as RWE and Uniper, said that tradable carbon credits remain the best way of cutting emissions.  At the moment, the UK is a member of the EU’s carbon trading system, which allows members to buy and sell credits allowing them to emit a certain amount of carbon. Although the government has said that it backs the development…