Revealed: UK Companies Opening Overseas Carbon Credit Accounts in Preparation for No-Deal Brexit

Source: Desmog UK

 

Read time: 4 mins

British companies are increasingly moving their carbon credits into new offshore accounts to get around punitive measures from the EU and in preparation for a no-deal Brexit, DeSmog can reveal. 

At least 35 companies have filed for EU emissions trading scheme (ETS) accounts in the Netherlands in recent months. Without these accounts, companies potentially face having millions of pounds’ worth of tradable carbon credits locked in the UK in the case of a no-deal Brexit, preventing companies from selling the permits. The new accounts brings the number of offshore carbon credit accounts traced by DeSmog up to 69.

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