Energy, Estonia, Financial Services, Legislation

At least half of the revenue has to be invested in environmentally friendly projects, the Ministry of the Environment said.

Around 24.5 million euros of the revenue from 2015-2017 would be invested in the reconstruction of the public sector's buildings to improve their energy efficiency and reduce maintenance costs. The projects were launched this summer and are planned to be finished by the end of 2019.

In addition, innovative startup solutions were supported in 2016. In that same year the Ministry of the Environment also allocated 200,000 euros to the UN Green Climate Fund.

The EU ETS launched in 2013 and so far Estonia has made more than 70 million euros. Most of the revenue would be used in Estonia, but some of it is allocated to support climate-related activities in developing countries because they are especially vulnerable to climate change.