This is Estonia’s first sales agreement for assigned amount units (AAU-s) of greenhouse gases allocated pursuant to the Kyoto Protocol. The transfer deed of the AAU-s shall enter into force after ratification by the Government of Estonia, the respective commission in Austria and the Minister of the Environment of Austria. A state is only allowed to trade free assigned amount units. A number of projects have been developed in the ministries for using the money received from their sales. The project, to which the proceeds from the sales will be directed, is chosen by the buying country. The sales of the AAU-s takes place in the framework of the Green Investment Scheme which provides that the money received has to be directed to environmentally friendly projects aiming to reduce CO2 and other emissions. “If the transaction really does succeed, we would like to use that money to support 21 environmental projects,” said Minister of the Environment Jaanus Tamkivi. “The projects would include renovating heating utility lines and building combined power and heat plants all over Estonia. Introduction of these plants would reduce heat loss already in the upcoming years and also save fossil fuels. This would, in turn, reduce the greenhouse gas emissions in Estonia.” Estonia has free emissions in the amount of 85.19 million tons of CO2 equivalent; that is 17.19 million tons of CO2 equivalent a year. The surplus of emissions came about in the process of thorough reorganization of Estonian economy, during which more modern technologies and alternative energy production methods were introduced, more renewable energy sources were applied, economy measures in energy use were implemented, etc. In addition to Austria, Estonia is also conducting negotiations for selling assigned amount units with several European governments and some buyers in Japanese private sector.
Additional information: (8.03.2010) |
