UN to revoke Bulgaria's CO2 emission trade accreditation.

By bne IntelliNews May 14, 2010
The United Nations Climate Change Secretariat decided to revoke Bulgaria's accreditation to trade with carbon dioxide (CO2) emission quotas, environment minister Nona Karadzhova said. The decision is preliminary and the final one is expected by end-June, which means that companies still have about six weeks to sell their excess quotas. Minister Karadzhova was not optimistic that any positive changes may take place. The Secretariat found serous flaws in the system for measuring emissions reported in the annual report of Bulgaria, submitted in April 2009. As a result, it claimed that the country had failed to fulfil the recommendations made in 2007. The suspension may be lifted in November at the earliest. We remind that in April the EC approved the plan for CO2 quotas trade for the period from 2007 through 2009 after several rejections.

Related Articles

EC urges Bulgaria to comply with EU rules on free movement of capital.

The EC has sent a reasoned opinion to Bulgaria over failure to comply with EU rules on the free movement of capital, the EC said on its website. The privatisation act in Bulgaria introduces ... more

Govt seeks delay of antitrust rules violation procedure against Bulgaria.

Bulgaria will be seeking an extension of the court procedure filed by the EC against the country over irregularities found in the assignment of digital broadcast spectrum, transport minister ... more

Bulgarians hold EUR 100mn in deposits in Cyprus.

Bulgarian individuals and companies hold EUR 100mn in Cypriot banks according to ECB data, BTA reported quoting Reuters. The largest EU depositors in the crisis-hit country are Greece with EUR ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335