EU ETS revenues can help unlock the clean energy transition
- Oct 18, 2019 9:44 am GMT
A recent World Bank study reveals global carbon revenues are rising sharply, but only around 42% are used for environmental projects. It shows European and American citizens prefer their governments to spend carbon revenues on low-carbon initiatives, so why is political will lagging behind asks Susanne Dyrbøl from Rockwool Group
Increased attention to carbon pricing from policy makers in recent months is unlikely to be coincidental. Money talks, as the saying goes. As a result of reforms, carbon prices in the European Union Emissions Trading System (ETS) have increased fivefold in the last two years. In 2017, auctioned allowances created revenue for member states totalling €5.6 billion. Revenues for 2018 could be three times higher at around €15 to €18 billion.
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