Countries in the European Union are examining alternatives to the EU’s idea to create a carbon market reserve to help finance their departure from Russian gas. Otherwise it would jeopardize the bloc’s climate change strategy.
To reduce the EU’s reliance on Russian gas this decade, the European Commission published its plans in May. One of these plans included a suggestion to raise 20 billion euros ($20 billion) by allowing nations to sell carbon permits kept in the “market stability reserve” of the Emission Trading Scheme (ETS).
The topics discussed include:
- A rise in carbon permit prices as a result of the stability reserve
- A Drop in the price has impacted the funds for green investments
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