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Published: 12 october 2012 12:29

Lithuania hopes to be readmitted into carbon emissions trade in October

Vilniaus savivaldybė Lietuvos Respubliką skundžia Europos Komisijai dėl neskirtų lėšų Vilniaus termofikacinės elektrinės modernizavimui.
Andriaus Ufarto/BFL nuotr. / .

Lithuania hopes that it will be readmitted into carbon emission trade market at the end of October.

Experts of the United Nations’ Framework Convention on Climate Change (UNFCCC) secretariat assessed Lithuania’s reports last week and at the end of September.

Based on their conclusions, the Compliance Committee of the Kyoto Protocol should lift the suspension of permission for Lithuania to trade in carbon emission rights at its meeting due on 23-24 October, Environment Minister Gediminas Kazlauskas said.

“When the experts provide positive findings, there will be no more reasons for the Compliance Committee of the Kyoto Protocol not to lift the restrictions imposed on Lithuania,” the minister said.

The Kyoto Protocol Compliance Committee last December sanctioned Lithuania for a breach of reporting rules and suspended permission for the country to trade in carbon credits. The panel then gave Vilnius six months to correct inaccurate data provided in a report on the 2008 emission allowances market.

Last year, Lithuania raised just over 200 million litas (EUR 58m) through the sale of carbon dioxide emission credits, far below its 500-million-litas target. This year, the government planned to raise 297.45 million litas in revenue, but received a mere 45.05 million litas during the first half.

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