Climate Action

12 million NER 300 allowances sold by the European Investment Bank in December

Solar Power Panels, Albuquerque, New Mexico, USA © Digital Vision

After the European Commission delivered 300 million allowances to it in December 2011, the European Investment Bank (EIB), which supports the Commission in implementing the NER 300 initiative, started sales of carbon allowances that can be used in phase 3 of the EU Emissions Trading System. During the last month, the EIB has thus sold 12,000,000 EU allowances for a total value of EUR 97,849,000.

The first tranche of 200 million allowances needs to be monetised within 10 months from delivery, i.e. by 2 October 2012. This implies an indicative volume of sales of 20 million allowances per month.