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UK CO2 auction income seen over 64 bln eur by 2020

Thu, 02/10/2011 - 4:29am
Reuters

LONDON (Reuters) - UK government revenues from auctioning European Union carbon permits could swell to over 64 billion euros ($88.94 billion) from 2013 to 2020, which should be earmarked for financing low-carbon projects, a report said.

Revenues should be used to address fuel poverty, provide funds for developing countries to combat climate change and help the UK meet ambitious emissions cut targets by 2020 and beyond, the report by carbon offsetting firm Carbon Retirement said on Thursday.

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