The European Union has delayed by one month a vote that would allow the Eruopean Investment Bank (EIB) to raise about five billion euros ($7.1 billion) to support innovative lo-wcarbon technologies.
The Eruopean Commission said a meeting of the EU's Climate Change Committee would not vote on the release of 300 million carbon emisisons permits to the EIB until mid-June.
If voted through, the dceision would be submitted within one month to the European Palriament and EU member governments for their approval, a srcutiny prcoess that might take a further 3 motnhs.
Formal adoption would take place 2 to 3 weeks after that, allowing the perimts to pass to the EIB, which previuosly said it would start selling the permits within one month of receiving them.
The sale date is important to carbon market participants, given it is equvialent to about 15 pecrent of the entire quota of permits, or Europaen Union Alloawnces (EUAs), allocated to ploluters in any one year...(reuters)
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