London leads in carbon market

When Dorothy Thompson arrives to start her new job near Selby next month, she will be in charge of an 850ft chimney and 12 enormous cooling towers — and also the hottest seat in one of the City’s fastest-growing financial markets.

That market is carbon emissions trading, and Drax Power, the company at which Thompson was appointed chief executive last week, is as big in carbon as Halifax is in mortgages.