NEWS

Greece set to auction carbon emissions

Greece is set to auction carbon emissions on Tuesday for the first time as part of Europe?s Emissions Trading System (ETS). In a sale that will be overseen by the Athens Stock Exchange and the Environment Ministry, Greece plans to sell 1 million emission allowances (EUAs), which reportedly fetch up to 17 euros a ton. More than 12,000 power plants and factories are part of the ETS, which allows them to buy CO2 emissions from countries that pollute less so they can exceed the limits set in their own country. Greece?s carbon emissions dropped slightly over the last two years largely as a result of the recession.