On Thursday, the government modified the normative act regarding the initiation and development of green investment schemes, through which Romania can trade a maximum of 350 million tonnes of carbon dioxide equivalent, until September 9, write Agerpres.

According to a press release of the Government regarding the normative acts approved in Thursday’s meeting, the deadline until which Romania can sell this volume of (AAUs) surplus of greenhouse gas emissions is September 9, 2023, when the end of the accounting phase of the second commitment period of the Kyoto Protocol 2013 – 2020 ends.

„In order to achieve the commitment assumed by Romania for the period 2013 – 2020, national emissions must not exceed approximately 656.059 million tonnes of dioxide equivalent, according to the provisions of the Kyoto Protocol modified and completed by the Doha Amendment. The amounts obtained from the sale of the approved surplus will be used for the initiation and development of green investment projects, in the category of which the Government decided to include those that aim to reduce greenhouse gas emissions in the manufacturing industry, considering the importance of the industry as an engine of economic development, such as and the objective of the European Union to accelerate the industrial transformation with zero net emissions”, the press release also states.

The decision approved by the Government updates the institutional circuit related to the process of commercialization of AAUs.