Dear Editor,
Many thanks to Fiona Harvey for trying to explain the Carbon Markets in which British firms need to pay more for the carbon they emit than the EU ("Brexit decision ...", The Guardian, 9th Jan 2022, link below) ... but I ended up being completely confused!
Surely, in order to save the planet, carbon needs to be expensive? So is it not commendable that British firms are paying slightly more than their EU counterparts? If this premise holds, then surely Britain should be criticising the EU for selling off carbon too cheaply? Rather than wanting to join the EU scheme!
While trying to follow the logic, I felt as if I were Alice in Wonderland rattling down a rabbit hole with the Mad-Hatter.
But anyway, my main conclusion is that Carbon- Credits/Trading/Markets are ... COMPLETELY BONKERS!
So why don't we simply give up on all that and instead impose a carbon tax? With the revenue going directly to low-carbon projects.
Or is that simply too simple?
Regards
