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Environment

EU eyes billions of euros from CO2 market for post-Brexit budget

Bloc faces gap of about €10 billion a year as of 2021 as a result of Brexit

bloomberg
13.02.2018

The European Union (EU) executive plans to sound out the bloc's leaders on redirecting part of the revenue generated by auctions of carbon-dioxide permits from national coffers to the common post-Brexit budget.

The move would help plug the EU budget financing hole arising from the UK's departure, by injecting an unspecified part of as much as €105 billion projected to be generated by auctions over the seven years after 2021, according to a person familiar with the European Commission's calculations.

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