Putting a price on carbon – whether through a trading system, a carbon tax, or otherwise – will increase energy costs.
On Tuesday, the company announced that it was introducing new technology that will allow institutional bond investors to connect directly without going through a trading desk.
Today, the firm does not operate in the United States but buys and sells stocks through a trading affiliate that is registered with the Securities and Exchange Commission.
The backstop would swing into place if the two sides fail to resolve the issue through a trading agreement, the UK's preferred option.
Hammond said heightened volatility in financial markets would see the Government's 9.1% stake sold through a trading plan to institutional investors.
The Treasury began selling off the Lloyds stake in September 2013 and has been feeding shares into the market through a trading plan since December 2014.
All policies that price carbon in some way make fossil fuels more expensive than clean energy (through a trading scheme that limits total carbon-based energy or through a direct tax).
One source of New York's troubles is a generally sound piece of Federal legislation, the 1990 Clean Air Act amendments, that sought to harness market forces to reduce air pollution through a trading system for pollution allowances.
