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Hungary’s carbon credit revenue reaches HUF 17.6 bln

Hungaryʼs revenue from selling its emissions quota reached HUF 17.6 bln in the period of January - September, state secretary András Tállai said in a written response sent to opposition green party MP Bernadett Szél, Hungarian news agency MTI reported this morning.

In a response posted on the official website of the Hungarian Parliament, the state secretary wrote that revenue from the sale of carbon credits reached HUF 1.9 bln in 2010, HUF 4.3 bln in 2011, HUF 10.6 bln in 2012, HUF 14.6 bln in 2013 and HUF 17.5 bln in 2014.

According to Tállai, half of the aforementioned revenue went to the central budget, MTI reported. A quarter of it has been allocated for R&D activities and pilot projects that reduce greenhouse gases, boost energy efficiency and support renewable energy resources, MTI reported, while another quarter has gone toward programs that support environmentally-friendly investments, such as the construction of solar panels and the purchase of buses that run on compressed natural gas.