EU postpones carbon allowances sale

The EU Innovation Fund for low-carbon technology projects will delay the sale of its allowances on the EU’s emissions trading system until further notice, the European Commission announced on Thursday.

The sale of the fund’s first batch of 50 million allowances will be postponed “as the necessary arrangements for this monetisation are not yet in place”, the Commission said.

Clara de la Torre, deputy head the European Commission directorate-general for climate, explained that the fund is meant “to support up to 60% of the cost of deploying disruptive clean technologies”, such as carbon capture and storage.

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