by Staff Writers
Bucharest (AFP) Aug 29, 2011
The head of Romania's environment protection agency quit Monday after the Balkan country was blocked from selling carbon credits over concerns about irregularities, the government said.
Iosif Nagy, named to the job in 2010, told Agerpres news agency he was paying for his predecessors' errors.
The committee monitoring Kyoto Protocol compliance has suspended Romania from the programme due to "irregularities observed" in Bucharest's 2010 greenhouse gas emissions data, the environment ministry said Sunday.
In December, Romanian Environment Minister Laszlo Borbely said the country hoped to earn some 1.5 billion euros ($2.2 billion) from selling carbon offsets.
Romania was in talks with two Japanese companies on selling parts of the 300 million carbon credits it had been granted by the Kyoto committee.
The suspension has immediate effect, and Bucharest must put in place an "adequate" system for monitoring emissions before it can resume selling carbon offsets, the ministry explained.
The environment ministry said it had already begun developing an improved emissions monitoring system so that it could re-enter the carbon market in the near future.
The carbon trading scheme was adopted under the Kyoto Protocol, which sets binding targets for 38 industrialised countries for reducing greenhouse gas emissions by five percent between 2008 and 2012 compared to their 1990 level.
The scheme allows around 12,000 companies including huge multinationals to buy and sell rights to pump industrial gases into the atmosphere.
Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.
Kyoto team suspends Romania from carbon market
Bucharest (AFP) Aug 28, 2011
The Kyoto Protocol committee has blocked Romania from selling carbon credits over concerns about irregularities in the country's carbon emissions data, Romania's environment ministry said Sunday. In December, Romanian Environment Minister Laszlo Borbely said the country hoped to earn some 1.5 billion euros ($2.2 billion) from selling carbon offsets. But the committee that monitors Kyoto ... read more
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2011 - Space Media Network. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement|