Estonia earned €141.2 million in income from the sale of greenhouse gas emission credits in 2018, at least half of which is used to mitigate climate change, it appears from an overview to be presented by Minister of the Environment Rene Kokk to the government on October 10, ERR News reports.
During the period from 2010 to 2013, Estonia concluded the Green Investment Scheme agreements under the Kyoto Protocol with Austria, Luxembourg, and Spain, as well as with several private-sector corporations from Japan.
Altogether the Estonian state sold over €75 million Assigned Amount Units (AAUs) of greenhouse gas emission credits and earned over €392 million in income from those sales, the government’s communication office said.
Part of the income, approximately €20 million, was received in the form of electric cars. By July 2018, the fulfilment of most of the agreements had been finished and €372 million euros of the funds obtained paid out.
A total of 46 businesses from Estonia are taking part in the system of trading in AAUs launched in the EU in 2005.
The businesses are active in the fields of energy and the refining and production of mineral oils.
Estonia’s income in 2018 amounted to €141.2 million euros, at least 50 percent of which will be used to mitigate climate change.
VES/ERR News
