Protests As Carbon Permits Auction Raises £54m

The Government provoked protests from campaign groups yesterday as it began Europe's first auction of carbon emissions permits but admitted that the proceeds would not necessarily be used to tackle climate change.

Campaigners said that the Treasury's decision to put the proceeds into its coffers rather than ringfencing them for use in environmental projects plays into the hands of critics, who fear that the ETS will be treated as little more than a green tax.

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