SLOVAKIA will be allowed to continue trading with the AAU emissions quotas after the UN commission for evaluating the fulfilment of obligations of the Kyoto protocol announced its decision on July 16.
“The decision is a success that shows that the reputation of our country in this area has significantly improved compared to the past,” Environment Minister Peter Žiga said, as quoted by the official press release. Slovakia managed to turn over the negative evaluation from August 2011.
The UN commission officially launched the compliance procedure in May 2012, which could result in Slovakia’s losing the right to trade its emissions quotas AAU (Assigned Amount Units). Slovakia reacted by a number of remedy measures, among them also the creation of the Commission for the Coordination of the Climate Change Policy, the Environment Ministry reported.
Slovakia currently possesses 27 million tonnes of AAU quotas available for sale. The ministry is currently negotiating with potential buyers: Japanese companies as well as two European governments.