Romania risks losing 1.5 billion euro if it does not manage to sell CO2 certificates

Marţi, 19 aprilie 2011, 16:00 English | Top News

Romania did not manage to sell its 300 million CO2 certifications surplus. If they would have been sold two years ago, Romania would have gained 3 billion euro. However, they were not sold then because there was no legislation. Meanwhile, when the legislation was adopted, the start was lost and it was hard to find other states interested. Their value also dropped to half compared to the 2009-2010 level. If sold now, Romania would obtain 1.5 billion euro, Environment ministry director Florentina Manea declared in a press conference. However, there is also the possibility not to sell certificates until 2012.  

The deadline to sell CO2 emission certificates is 2012 and Romania has been negotiating with other states that did not comply with their Kyoto protocol requirements like Japan, Spain, Portugal or Canada. However, none of the negotiations lead further, Manea said. She expressed her hope that Romania will manage to sell the certificates. Romania has extra certificates because it polluted out. The more industrialized the country, the more it pollutes.