Brussels wants to cut proposed funding for CCS

Commission says reducing funding earmarked under EU emission trading scheme is key to agreement on financing

The European commission has called for a "sizeable" reduction in the proposed number of carbon allowances set aside under Europe's emission trading scheme for financing carbon capture and storage (CCS) demonstration projects, according to an informal policy paper obtained by ENDS.

The document was prepared by officials from several commission departments including the environment and energy directorates and will be discussed by member state diplomats in coming days, ENDS understands.

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