This is a new consequence of Brexit.
The American giant ICE (Intercontinental Exchange) is relocating its European “rights to pollute” market from London to Amsterdam.
This represents a transaction volume of around one billion euros per day.
This decision stems from the lack of "equivalence" for this activity within the European Union, since the British exit from the single market on December 31.
It follows the relocation to the continent of around € 6 billion a day of trading in shares of European companies previously listed on the London secondary markets, which took place overnight in early January, to the benefit of Paris and France. 'Amsterdam.
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CO2 emissions: a historic drop in 2020
ICE's decision is yet another blow to City.
Especially since the government of Boris Johnson recently unveiled its vision to make it a
"world leader in green finance"
.
The carbon permit market has doubled over the past five years.
A tool for the European Commission's greening policy, it is set to develop further.
The United Kingdom is in the process of launching its own market for trading these certificates.
British financial players remain suspended from the decisions of the European Commission on equivalences, authorizations granted unilaterally to intervene in the European market.
Only two have been granted so far.
But Brussels takes its time and does not hide its desire to seek to weaken London's dominant position in this area.
Europeans also fear London's inclinations to diverge from their regulations, an opportunity offered by Brexit.
