BRUSSELS (Reuters) – European Union (EU) countries on Tuesday approved plans to sell carbon permits in advance to raise funds to help them replace Russian gas, meaning the law can now come into force.
This plan will bring together 20 billion euros in subsidies on the European carbon emissions market.
Member countries will be able to spend these subsidies on renewable energy and infrastructure renovations to save energy and replace the use of Russian gas. They will also be able to support heavy industry decarbonization projects.
These measures were agreed last year by negotiators from EU countries and MPs from the European bloc – who approved the agreement in early February 2023. Tuesday’s approval was therefore only a formality to put into effect the agreement without modification.
(Report by Kate Abnett, French version Dina Kartit, edited by Kate Entringer)
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