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Government approves sale of CO2 emission quotas to Spain

Slovakia is set to sell 27 million tonnes of its excess carbon dioxide emissions quotas to Spain, following the approval of the transfer by the government on Wednesday, June 19. The government also commissioned Environment Minister Peter Žiga to sign the agreement on behalf of Slovakia. He could not disclose either the price or the exact date on which the agreement would be signed, however.

Slovakia is set to sell 27 million tonnes of its excess carbon dioxide emissions quotas to Spain, following the approval of the transfer by the government on Wednesday, June 19. The government also commissioned Environment Minister Peter Žiga to sign the agreement on behalf of Slovakia. He could not disclose either the price or the exact date on which the agreement would be signed, however.

The minister told the TASR newswire that the resources acquired from the transaction will be used to buy hybrid-engine buses and to provide insulation in public buildings and flats. Slovakia last sold its emissions quotas in 2008 during Robert Fico's first government (2006-10). The sale resulted in a scandal, however, as the ministry sold the 15 million tonnes of emissions quotas to Interblue Group, a company that was at the time based out of an unattended lock-up garage in the United States, at the suspiciously low price of €5.05 per tonne.

Interblue Group then sold the quotas to Japanese companies, which purchased them at approximately €8 per tonne. Meanwhile, Interblue Group was supposed to spend €1 per tonne, or €15 million, on so-called green projects, but this has so far not happened. The US-based firm was subsequently dissolved and was reported to have been re-established as Interblue Group Europe, registered in Switzerland. The alleged successor of Interblue Group was also reported earlier this year to be interested in purchasing Slovakia’s excess CO2 emissions quotas. Źiga said no to the firm, explaining “I do not have a relevant partner who would demonstrate the relevant legal succession of the American firm Interblue,” as quoted by the SITA newswire.

(Source: TASR)
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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