Senate approves emission permits auction
The Czech senate has passed a bill that would allow the auctioning of carbon emission permits on Wednesday. In the next seven years the Czech Republic is expected to have 645 million permits available. A total of 342 million permits will be put up for auction, and may bring hundreds of billion crowns to the state coffers. Three hundred and thee million permits are expected to be given out to Czech manufacturers for free. The Environment Ministry is hoping to use part of the auction profits to support the Green Investment funding scheme.