UK Auctions First Carbon Permits; Government Hoarding Revenue

11.21.2008 | 13:11:00 pm | Posted by Cleanergy.org

Cross-posted from WattHead - Energy News and Commentary and the Breakthrough InstituteThe UK Government auctioned the first four million allowances to emit greenhouse gases under their portion of the European Union's Emissions Trading System this week, raising 54m ($80.9m). However, the government is drawing fire for failing to earmark the auction revenues to investments in clean energy and energy efficiency that could further cut emissions and help reduce the costs of compliance with the cap and trade program. Instead of reinvesting the revenues in clean energy ventures, the government is...

 
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