EU’s new ETS-backed ‘investment booster’ to focus on lower-income countries, draw from “existing reserves”

European Commission President Ursula von der Leyen announced the forthcoming launch of a €30 billion industry decarbonisation “investment booster” at an EU summit in the early hours of Friday morning, which will draw on 400 million allowances from "existing reserves" in the bloc's Emissions Trading System (ETS).