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Slovakia to sell fewer greenhouse-emission credits to Spain

Slovakia will sell fewer CO2-emission credits to Spain than originally estimated, Environment Minister Peter Žiga said on Wednesday, August 21. According to the draft of a contract drawn up by the Environment Ministry, approved by the Government earlier in the day, Slovakia is expected to sell 7 million rather than 27 million tonnes of greenhouse-emission quotas to Spain. The cabinet at its session also commissioned Žiga to sign the contract on behalf of Slovakia, the TASR newswire wrote.

Slovakia will sell fewer CO2-emission credits to Spain than originally estimated, Environment Minister Peter Žiga said on Wednesday, August 21.

According to the draft of a contract drawn up by the Environment Ministry, approved by the Government earlier in the day, Slovakia is expected to sell 7 million rather than 27 million tonnes of greenhouse-emission quotas to Spain. The cabinet at its session also commissioned Žiga to sign the contract on behalf of Slovakia, the TASR newswire wrote.

Meanwhile, the minister revealed that he didn't know the exact reasons behind the Spanish decision. He declined to disclose the selling price. The minister said that the resources acquired from the transaction will be used to buy hybrid-engine buses and to provide insulation in public buildings and flats.

Negotiations with Spain were launched last year and originally concerned selling 27 million tonnes of CO2-emission quotas. Slovakia last sold its emission quotas in 2008 during Robert Fico's first government (2006-10). The sale resulted in a scandal, however, as the ministry sold 15 million tonnes of emissions quotas to the garage-based company Interblue Group at a suspiciously low price (€5.05 per tonne). The quotas ended up in the hands of Japanese companies that purchased them for about €8 per tonne. Meanwhile, Interblue Group was supposed to spend €1 per tonne or €15 million on so-called green projects, but hasn't. The alleged successor to Interblue Group was also reported earlier this year to be interested in buying spare carbon-dioxide emission quotas. Žiga asserted after the information emerged that the firm no longer exists and that legal succession hasn't been proven by any organisation as yet.

(Source: TASR)
Compiled by Zuzana Vilikovská from press reports
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