Greece could earn up to 170 million euros for its cash-strapped treasury from a trade of greenhouse-gas emission allowances on the Athens stock exchange, a report said Sunday.
Greece
could
earn up to 170 million euros for its cash-strapped treasury from a trade of
greenhouse-gas emission allowances on the
Athens
stock
exchange, a report said Sunday.
Eleftherotypia daily said a first-ever auction of one million emission
allowances (EUAs) will be held on Wednesday, ironically as many Greek factories
will be shut by a general strike against the government's economic policies.
The
Athens
stock
exchange, which is overseeing the sale alongside the Greek environment
ministry, has said that 10 million EUAs will be traded this year.
Eleftherotypia said emission rights fetch up to 17 euros (24 dollars) a tonne
in other parts of
Europe
.
Follow-up auctions will be held on the last Wednesday of every month except
August and December, the stock exchange said.
Europe
's Emissions Trading System (ETS) is a carbon
market covering more than 12,000 power plants and factories.
"One emission allowance (EUA) gives the owner of a plant situated in a
European Union member state the right to emit in the atmospheres one tonne of
CO2 or an equivalent to CO2 during a certain period," the stock exchange
said.
Greece
is
struggling to emerge from a recession exacerbated by austerity cuts mandated by
the European Union and the International Monetary Fund in return for a
110-billion-euro loan that saved
Athens
from
bankruptcy last year.
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