Ukraine to sell carbon credits to Spain

subscribe

Ukraine's government has ordered its environment investment agency to sign a deal selling carbon emission rights to Spain.

The government's decision said it wanted to sell 3 million Assigned Amount Units (AAU) to Madrid and gave no further details of the transaction facilitated by the Kyoto Protocol's emission trading scheme.

Prime Minister Yulia Tymoshenko said in July Ukraine wanted to earn $2 billion from CO2 rights sales after Japan bought 30 million AAUs earlier this year. Ukraine said that deal was worth $375 million.

The government had said in May it was looking to sell this year 100 million AAUs to Swiss-based Dighton Carbon SA and another 50 million to New Zealand's Tawhaki International LP.

Ukraine was allocated 4.5 billion AAUs between 2008-2012 but due to a deep recession and steeply falling industrial activity, it estimates it needs to use only 2.8 billion. The country is allowed to sell about 450 million AAUs a year.

Related News

California Skirts Blackouts With Heat Wave to Test Grid Again

LOS ANGELES - California narrowly avoided blackouts for a second successive day even as blistering temperatures pushed electricity demand to a record and stretched the state’s power grid close to its limits.

The state imposed its highest level of energy emergency for several hours late Tuesday and urged consumers to turn off lights, curb air conditioners and shut off power-hungry appliances after a day of extraordinary stress on electricity infrastructure as temperatures in many regions topped 110 degrees Fahrenheit (43 Celsius).

Electricity use had reached 52 gigawatts Tuesday, easily breaking a record that stood since 2006, according to the California Independent System…

READ MORE
apartment lights

America’s Electricity is Safe From the Coronavirus—for Now

READ MORE

limestone station

External investigators looking into alleged assaults by Manitoba Hydro workers

READ MORE

russian-strikes-on-western-ukraine-cause-power-outages

Russian Strikes on Western Ukraine Cause Power Outages

READ MORE

china

China to build 2,000-MW Lawa hydropower station on Jinsha River

READ MORE