Slovak government approves sale of 27 million tonnes of Kyoto units

Reuters News
Posted: Nov 28, 2012 8:57 AM

BRATISLAVA (Reuters) - The Slovak government approved on Wednesday sale of 27 million metric tons (29.76 million tons) of its surplus United Nations'-backed emissions credits to Spain and potentially also to Austria.

A document debated by ministers on Wednesday showed the euro zone country could sell Spain all 27 million tonnes of the so-called Assigned Amount Units (AAUs) - allocated under the U.N.'s climate change pact, the Kyoto Protocol.

The second option says 22 million tonnes would go to Spain and 5 million tonnes to the neighboring Austria. The environment ministry was tasked with continuing negotiations with both European Union countries.

The price per tonne was not revealed, but Environment Minister Peter Ziga said on November 7 the price should be around current market levels, which are estimated at around 0.80 euro a tonne.

(Reporting by Martin Santa; editing by Jason Neely)