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Article: Greenhouse Gas Emissions Trading Under the Kyoto Protocol Kicks Off with Historic Allowance Transaction; - Government-to-Corporation Trade in Assigned Amount Units Represents the First Allowance Trade Under the Kyoto Protocol Compliance Regime -.
- Article from:
- PR Newswire
- Article date:
- December 6, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- The first trade of greenhouse gas emissions allowances under the compliance regime of the Kyoto Protocol was executed by the Slovak Republic and a major Japanese trading house. The trade of assigned amount units (AAUs) is the first to use the "International Emissions Trading" mechanism defined by the Kyoto Protocol. The buyer can use the allowances to comply with greenhouse gas emission reduction obligations under the Kyoto Protocol. The seller will use the proceeds to finance domestic emission reduction projects.
The Ministry of Environment of Slovakia, which is the authorized body of the Slovak government for Climate Change issues, has guaranteed to ...