The Romanian government yesterday gave its go-ahead to a carbon-trading scheme to cut greenhouse gas emissions, hoping to earn up to 2.5 billion euros ($3.3 billion) until 2012. “Romania can trade about 300 million credits, divided into 1-million-ton packages,” Economy Minister Adriean Videanu said during a press conference.
Environment Minister Laszlo Borbely last week said Spain and Japan were interested in buying Romania’s permits, with negotiations due to start soon. He added Romania was lagging behind in this field, as the trading should have started in 2008. The carbon-trading scheme was adopted under the Kyoto Protocol which sets binding targets for 37 industrialized countries and the European community for reducing greenhouse gas emissions.