The European Investment Bank (EIB) has announced fresh details around its plans to sell 300 million EU carbon allowances (EUAs).
Each allowance represents the right to emit one tonne of CO2. The proceeds of the sales will be used in "carbon capture and storage demonstration projects".
Of the total 300 million allowances, the first tranche of 200 million units is expected to be sold within 10 months, beginning around mid-November. The EIB has stated it would begin selling the remaining 100 millio