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Europe Needs to Save Its Carbon-Market Marriage
When the UK left the European Union, it created a rift in the global fight against climate change: Suddenly, the EU’s ambitious carbon cap-and-trade system — designed to reduce harmful emissions of greenhouse gases throughout Europe — had to be split in two.
Now the UK and EU say they want to get their carbon markets back together, as part of a broader “reset” in relations. It’s a great opportunity to demonstrate that, despite Brexit, common sense in climate and trade policy can prevail.