State budget and taxes 3 billion from EU emissions trading for climate protection in Eastern Europe
3 billion euros from the EU Emissions Trading Scheme will flow into Central and Eastern European member states for climate protection investments. The money has been disbursed to support 39 energy projects in ten EU countries, the EU Commission announced on Monday.
24.06.2024, 15:53
SDA
The investments are to be used to modernize energy networks, improve energy efficiency and expand renewable energies. Among other things, the billions will be used to support households to purchase and install new photovoltaic systems in the Czech Republic and to build solar and energy storage capacities for public water service providers in Croatia. Bulgaria, Estonia, Hungary, Latvia, Lithuania, Poland, Romania and Slovakia will also benefit.
The money comes from the so-called modernization fund, which in turn is fed by revenues from EU emissions trading. In emissions trading, industrial companies and electricity producers, for example, have to pay for their CO2 emissions. The investments are intended to help countries achieve their climate and energy targets and contribute to the long-term EU goal of climate neutrality by 2050.
