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September 24, 2021
BUSINESS

Sale of greenhouse gas emission certificates brings little cash to Romania

The price of greenhouse gas emission certificates has dropped by half against 2009-2010, so Romania might earn only EUR 1.5 bln from selling its surplus certificates, i.e. 50 pc of the sum it could have obtained two years ago, Mediafax reports. Romania has a surplus of 300 million certificates, which were evaluated at some EUR 3 bln two years ago. In 2011, the price dropped to 5-6 EUR/unit, from 10 EUR/unit in 2009-2010. According to Florentina Manea, head of the Environment Ministry’s Department for Climate Change, Romania is negotiating the sale of these certificates to countries that produced more greenhouse gas than allowed by the Kyoto Protocol, such as Japan, Spain, Portugal or Canada.

“We should sell them by 2012, because it is unclear if we can carry them forward next year. We hope to have a concrete transaction in the near future, the same as Poland or the Czech Republic, who were able to sell their certificates, while Russia and Ukraine lost their credibility by using the money thus obtained to other purposes than environment projects,” Manea said Tuesday in a press conference organised by the Environment Fund. The money earned from the sale of pollution certificates will be managed by the Environment Fund, and will serve to six types of projects aimed at curbing greenhouses gas emissions.

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