9 July 2009
EU: Temperature rises in Brussels over green investment
EUROPE's battle over how best to tackle global warming is heating up. A draft EU proposal on the allocation of around €9bn-worth ($12.5bn) of funding to green technology was seen by some as heavily favouring carbon capture and storage (CCS) over renewable-energy development. The draft report, obtained by Reuters, sets out how the European Commission plans to divide a New Entrants' Reserve of 300m free emissions permits – for use within the EU Emissions Trading Scheme (ETS) – among companies developing clean-energy technologies. The report says the extra funding should distributed "proportionately" between CCS schemes and renewable-energy projects, but adds that "departures from this can be j
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