DAILY NEWSCapital stock to fund future Climate Policy
Riitta Myller
Temporary committee on climate change proposes setting up a European climate fund for financing climate change policies. The Fund would be financed by part of the revenues from ETS auctioning.
Riitta Myller
Temporary committee on climate change proposes setting up a European climate fund for financing climate change policies. The Fund would be financed by part of the revenues from ETS auctioning.
- Revenues for climate fund would be from ETS auctions, says socialist coordinator for climate change committee, Riitta Myller.
European Commission has estimated that the revenues from the auctioning of allowances will amount at least 33 billion and up to 50 billion Euros on yearly bases by 2020.
- This is a way of creating capital stock to fund future climate policy and making investments for new green technology. Creating this kind of trust of future for markets is needed now as the financial crisis is making markets wait for making new investments. Climate capital stock is also crucial to help the poor countries to adapt to climate change, says Riitta Myller.
Ms. Myller sees that the temporary committee on climate change also made it possible that European parliament was able to process the energy- and climate package in such a tight timetable in the end of last year.
- Work of the committee contributed to common will of tackling climate change. This made it possible to get the package that aimed to post-Kioto agreement approved in the Parliament so rapidly.
Climate Fund and over 200 other proposals are included in the final report of temporary committee on climate change that was voted in plenary today.
European Commission has estimated that the revenues from the auctioning of allowances will amount at least 33 billion and up to 50 billion Euros on yearly bases by 2020.
- This is a way of creating capital stock to fund future climate policy and making investments for new green technology. Creating this kind of trust of future for markets is needed now as the financial crisis is making markets wait for making new investments. Climate capital stock is also crucial to help the poor countries to adapt to climate change, says Riitta Myller.
Ms. Myller sees that the temporary committee on climate change also made it possible that European parliament was able to process the energy- and climate package in such a tight timetable in the end of last year.
- Work of the committee contributed to common will of tackling climate change. This made it possible to get the package that aimed to post-Kioto agreement approved in the Parliament so rapidly.
Climate Fund and over 200 other proposals are included in the final report of temporary committee on climate change that was voted in plenary today.
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