Spain fails its green targets and is to buy its way out of trouble

LAST UPDATED: 18 Nov, 2014 @ 22:23
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Spain fails its green targets and is to buy its way out of trouble

SPAIN must pay its way out of trouble after failing to meet green targets outlined by Europe’s Environment Agency.

The country is set to buy €400 million of emission-reduction credits from its greener European neighbours.

Nine countries including the Netherlands, Portugal and Ireland are weighing up the possibility of spending big to meet their targets.

A country failing to meet its green targets can buy credits from other countries that are over-achieving or invest in emission-reducing projects abroad.

There are currently 33 EU member countries subject to EEA targets.

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