Brussels wants to raise €20bn to fund the EU’s exit from Russian energy by selling surplus carbon emissions permits — a move that risks hitting the bloc’s climate goals by making it cheaper to burn fossil fuels.
The European Commission is looking at auctioning off part of a stock of Emissions Trading Scheme certificates, EU officials and diplomats told the Financial Times. The permits allow their users to emit more carbon.
The commission has a plan for Europe to invest around €200bn by the end of the decade to try to shift away from its dependence on Russian energy, by investing in new infrastructure and alternative supplies.
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