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Bulgaria passes long-delayed CO2 emissions plan
Sofia (AFP) Dec 23, 2009 Bulgaria has finally passed its revised 2008-2012 carbon plan, Environment Minister Nona Karadzova said Wednesday. The government allocated carbon emissions permits to some 132 industrial installations, which they can now trade with other businesses. "The adoption of the plan is extremely important to the industry, which would now join the European trade in carbon emissions permits," Karadzhova told journalists. "The 132 companies included in it can now start making their business plans by 2012." The plan for distributing among the industry Bulgaria's share of 42.3 million of the so-called EU Allowances (EUAs), each equivalent to a tonne of CO2, had been delayed by three years, she said. That had made Bulgaria the only country that could not join the trade in carbon credits, the minister added. The country has already received EUAs buying requests from Spain and Japan, Karadzhova said Wednesday. Bulgaria's previous cabinet failed to get Brussels' approval of its initial carbon plan in 2007. It launched a legal challenge asking the European Commission to raise its emissions quota to 67 million tonnes of CO2 from the initially allocated 42.3 million, and is awaiting a ruling. Under the Kyoto Protocol, Bulgaria agreed to cut its CO2 emissions by 8.0 percent compared to their 1988 level and emit no more than 130 million tonnes of CO2 a year. Depending on the Commission's ruling on the country's challenging of the quotas, Bulgaria would end up with at least 60 million tonnes of CO2 or 60 million EUAs to trade, which are worth several hundred million euros. Share This Article With Planet Earth
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