In the context of economics, an externality is a consequence of a business or industrial activity that affects third parties but which is not reflected in market prices. A ‘negative externality’ is when those consequences cause harm, for example the damage caused by a changing climate, driven by the CO2 released from the combustion of fossil fuels, or the damage to human health caused by local air pollutants released from combustion processes.
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The Carbonwise editorial team is formed of seasoned established industry writers and specialist journalists.
22 May 2026
CO2 emissions from the industrial sectors led to a year-on-year drop in 2025 under the EU Emissions Trading System, according to verified European Commission figures released in April.
19 May 2026
Refers to sectors in which greenhouse gas emissions are difficult to reduce. Includes industries such as iron and steel, cement, refining, chemicals, shipping, aviation and heavy duty trucks.
12 May 2026
A set of 10 principles put forward by the Integrity Council for the Voluntary Carbon Market (ICVCM) which define high-quality carbon credits, focused on aspects such as governance, tracking, verifiability and additionality.
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