Romania Gets Eight Bids To Sell CO2 Emission Allowances – Econ Min

Videanu said requests for the country’s surplus greenhouse allowances range between several million metric tons and 100 million metric tons of CO2.

Romania eyes between EUR1.2 billion and EUR2.5 billion from selling up to 300 million carbon dioxide emission certificates in 2010.

Each CO2 emission certificate represents one metric ton of greenhouse gas emissions. Polluting companies are allowed to buy and sell CO2 emissions allowances based on their annual emissions targets.

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Under the Kyoto Protocol, Romania’s total CO2 emissions for the 2008-2012 period can’t exceed 379.72 million metric tons (or 379.72 million allowances).

Romanian greenhouse gas emission reached a little over 47 million tons in 2009, 38% below the country’s annual allowance of 76 million tons, according to Environment Ministry data.