EU plans early carbon market auctions from July

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The European Union plans to conduct early carbon market auctions, starting from July, to raise extra funds to help countries quit Russian gas and cut emissions, the European Commission said on Monday evening.

The EU plans to raise 20 billion euros in grants from its carbon market, with 8 billion euros of that coming from carbon permit sales held earlier than planned.

The remainder of the 20 billion euros would be raised from a carbon market fund designed to support innovative green technologies, but this cannot start until the EU tweaks its law on carbon market auctions to confirm the new volumes.

 

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