Strategic spending: how the EU Emissions Trading System can fund fair climate action
EU Member States are spending billions of Euros less on climate action through the Emissions Trading System (ETS) than they could, WWF analysis reveals. According to EU Member States’ reporting, of the €13.9 billion total ETS revenues in 2018, one-third - €4.6 billion - was not spent on climate actions like insulating homes or installing renewable energy. What’s more, emissions allowances worth €11 billion were given out to polluters for free. This makes almost €16 billion of missed money for climate action last year.