Romania Suspended From Trading Emission Certificates For At Least Six Months - Minister

The minister said that, when he took over in 2008, he learned that six studies required for the national emissions inventory had not even been started. He hopes the studies will be completed by the end of this year and this, together with a report in September, might limit Romania's suspension to six months.

The current state of affairs also owes to the sluggish development of proper legislation, which happened only in 2010, because of differences between the Environment and Economy ministries.

Borbely added that Romania will not lose the emission certificates, but is not allowed to trade them during the suspension. "We can negotiate, we can prepare some contracts, but we cannot trade," he said. The state is in advanced negotiations with "several entities," according to Borbely, and he hopes to trade as many certificates as possible once the suspension is lifted.

The international committee's injunction has also blocked the national registry of greenhouse gas emission certificates, meaning companies that own such certificates may not trade them on the domestic market.

The minister hinted that these companies had foreknowledge of the suspension and prepared to trade the certificates on foreign markets, especially Bulgaria.

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