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Poland to sell surplus CO2 emission rights to Spain
Nov 9, 2009, 14:50 GMT
Warsaw - Poland signed a deal Monday to sell surplus greenhouse gas emission rights to Spain in what is the first move for Warsaw of its kind.
Polish Prime Minister Donald Tusk said that the deal would give Warsaw funds for investments in lowering carbon dioxide emissions and improving energy efficiency.
Under the Kyoto protocol, a country that is below its emission target can sell its surplus allowance as credits to other nations or governments that are set to exceed their limits.
The deal, worth 25 million euros (37 million dollars), was signed by Tusk during a visit by his Spanish counterpart, Jose Luis Rodriguez Zapatero, in Sopot, northern Poland.
Environment Minister Maciej Nowicki said last month that Poland would sell 40 million euros' worth of emission rights to Ireland and Spain, the Warsaw Business Journal reported, and was looking into another deal in talks with Japan's Mitsubishi Corp.
Poland plans to use the proceeds from the sales to fund projects for renewable energy and clean coal technology, Nowicki told the newspaper.
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