Czech Sells Carbon Credits to Japan, Invests in Green Programme

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PRAGUE, Czech Republic—Czechs who want to reduce their energy consumption will now get financial aid from the government, according to a recent deal.

Czech households will get around CZK 10 billion (US$ 480 million) this year from a new programme, encouraging them to switch to more environmentally-friendly heating methods, or retrofit thermal insulation in their old houses

The money comes from a contract on carbon credits signed with Japan on March 30 in Prague. The Czech Republic sold their redundant “Kyoto” credits earned by reducing their greenhouse gas emissions by 24 percent from 1990, while the pledged number was 8 percent.

“We have saved much more as a result of the collapse of, and substantial change in, the socialist economy. Thus, today, Japan is contributing to our potential for a further reduction in emissions,” said Martin Bursik, Minister of the Environment.

Japan had to buy permits to emit 1.1 billion tonnes of carbon dioxide (CO2) to fulfil its Kyoto commitment.

“Today’s signature finally opens the way to factual support for energy savings and production of heat from renewable energy sources in Czech households. The scheme will lead to a significant reduction in greenhouse gas emissions, as well as air pollution,” said Bursik.

“It should also be emphasized that people will, in particular, save substantial amounts for heating, in addition to energy and emissions,” added the Czech Minister and Green Party leader.
The Czech Republic is currently negotiating the sale of other carbon credits with more countries, and the World Bank.