Czechs sell carbon credits for CZK 17 billion

| Sourced From Praguemonitor.com |

Prague, Nov 4 (CTK) – The Czech Republic has sold carbon credits worth 16.8 billion crowns so far, the Aktualne news server writes Wednesday, citing Environment Minister spokesman Jakub Kaspar.

The money received for the emissions goes to a state programme supporting measures like environment-friendly heating for households and house insulation.

The country has sold 68.5 million tonnes of carbon dioxide and it plans to sell 100 million tonnes altogether, the server writes.

Japan, Austria and Switzerland agreed to buy carbon credits from the Czech Republic.

Kaspar said the money earned through the sales more or less met the expectations.

“We have been negotiating about the sale of further credits,” he said.

The Czech Republic received carbon credits because it lowered greenhouse gas emissions more markedly than it pledged under the Kyoto Protocol.

While the country promised to decrease the emissions by 8 percent compared to 1990, they were lowered by 25 percent, also due to an economic downturn in the 1990s. The Czechs may therefore sell the “redundant” emissions to countries that have problems to meet their pledges.

An international conference on the reduction of greenhouse gas emissions is to be held in Copenhagen in December.

The Copenhagen conference is to set goals in reducing greenhouse gas emissions after 2012 when the Kyoto Protocol expires.

Posted on November 7, 2009 · in Global

Tagged as: carbon credits • Carbon Dioxide • czech carbon • GHG emission