Romanian Finance Ministry To Auction Off Carbon Credits

Each country in the Kyoto Protocol is assigned a certain number of carbon dioxide (CO2) emission certificates per year. Romania received around 300 carbon credits for the 2008-2012 period, which the authorities value at some EUR2.5 billion.

However, the Kyoto Protocol committee in August suspended Romania from selling carbon credits, citing concerns about irregularities in the country’s greenhouse gas emissions data.

Trading was suspended for a period of at least six months, until the authorities in Bucharest set up an adequate system to monitor emissions.