Governance

The EU Emissions Trading System (ETS) Directive defines the roles and responsibilities of the beneficiary Member States, the European Investment Bank (EIB), the Investment Committee and the European Commission.

Member
States

The beneficiary Member States are Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania and Slovakia.

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Investment
Committee

The Investment Committee meets twice a year to assess non-priority investment proposals.

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European
Investment Bank

The European Investment Bank auctions the European Union Allowances of the Modernisation Fund, assesses investments proposed by the beneficiary Member States, manages revenues and transfers resources.

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European
Commission

The European Commission takes the disbursement decision and chairs Investment Committee.

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Governance