Czech Republic to sell carbon credits to World Bank

The Czech Republic will sell two million carbon credits to the World Bank, the Czech Environment Ministry said on Friday. The funds will be used for subsidies of energy saving and renewable energy production, the ministry said. The World Bank’s vice-president for sustainable development, Katherine Sierra said this was the first time the bank finances such a programme with its carbon funds. The Czech Republic has so far sold 75 million carbon credits, most of them to Japan, Austria and Sweden; 25 million credits are still available for sale.