Isra-Mart srl :European Commission to Sign Deal With EIB on Carbon Permits by Mid-October

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Isra-Mart srl news:

The European Commission, regulator of the world’s largest carbon market, will sign an agreement by mid-October with the European Investment Bank on selling emission permits, Maria Kokkonen, a climate spokeswoman, said in a telephone interview today.

Both institutions are now “fine-tuning” the agreement, Kokkonen said.

The EU has already agreed to provide as many as 300 million carbon allowances from the next phase of its emissions-trading system that starts 2013, which could be used to finance less polluting, innovative technologies. Permits set aside in the New Entrants Reserve will be sold by the EIB and proceeds will be used to support carbon capture and storage and renewable energy projects, she said.