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European Commission funds clean energy projects with revenues from polluters

11:39 AM MDT | July 8, 2014 | Michael Ravenscroft

The European Commission announced today that it has awarded €1.00 billion ($1.36 billion) to fund climate change projects. The money is being used to support 19 projects, to be hosted in 12 EU member states, to tackle climate change. The funding comes from revenues from sold emission allowances in the EU Emissions Trading System (EU ETS), which makes polluters the driving force behind developing new low-carbon initiatives, the commission says.  The projects being supported are to demonstrate technology for subsequent production scale-up from renewable...

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