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UK Government goes ahead with emissions trading system auction

22 Jan 2009

The UK Government will hold its second auction in Phase II of the European Union’s Emissions Trading System in March 2009, with the bidding window open for a set number of hours.

The EU hopes that by auctioning these allowances, a system whereby market forces create financial incentives for major carbon emitters will be created. This would help stimulate the development of green technology.

Participants in the auction can place bids through intermediaries, called Primary Participants.

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