Germany to buy CO2 quotas from Bulgaria, Hungary and Czechia

Europe largest economy and biggest carbon emmiter overeached the imit of its carbon quoas with more than 10 million tons. German authorities announced that the country has exceeded its emissions quotas, especially in the construction and transport sector. Despite the hugely popular 9-euro ticket for public transport from this summer, Germany will be forced to buy emissions credits from countries that have met their green goals.

By far the biggest emitter in the bloc, the Bundestag will have to buy millions in emissions rights, from countries that have emitted much less. In this case, these are Bulgaria, Hungary and Czechia. These countries will have to use the money to fund the further expansion of their green and sustainable policies.

On the one side, this represents the spirit of the EU Emissions Trading Act, where the polluters would have to pay the more disciplined Member States. However, it also showcases one of the flaws of the scheme – richer countries can just pay their way out of having to reduce carbon emissions.

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