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Hungary to use carbon-credit revenues for improvements

Hungary's Environment Ministry plans to use HUF 14 billion-15 billion of the HUF 28.2 billion in revenue from the sale of its carbon credits allocation for a program to make pre-fabricated communist-era buildings more energy efficient, Environment Minister Imre Szabó said on Tuesday.

Under the program, called the Green Investment System, home owners can apply for grants to cover between 35% and 60% of the cost of improvements.

Hungary sold around 8 million tons of carbon-dioxide emission credits to Belgium and Spain last year, generating revenue of HUF 28.2 billion.(MTI-ECONEWS)