Belarus to be able to sell greenhouse gas quotas in 2008

Belarus will be able to launch a large-scale sale of greenhouse gas quotas within the framework of the Kyoto Protocol in 2008, deputy minister of natural resources and environmental protection Alexander Apatskiy informed.

In his words, in line with the Kyoto Protocol the first budget period is scheduled for 2008-2012. Within this period Belarus will have an opportunity to sell about 40 million tons of greenhouse gases a year. Given the minimal price of 1 ton of greenhouse gases in CO2 equivalent equals USD 3,5, Belarus will make a yearly profit of about USD 200 million.

Alexander Apatskiy informed that the Kyoto Protocol will come into effect in Belarus 90 days after the president signs it. After the document comes into force this country will be able to partake in joint implementation projects that would help attract necessary funds to introduce new technology and to modernize the productions in the effort to reduce greenhouse gas emissions.

BelTA note: Kyoto Protocol to the UN Framework Convention on Climate Change was adopted in Japan at the 3rd session of the parties to the UN Framework Convention on Climate Change. The Kyoto Protocol is a legally binding agreement under which industrialized countries will reduce their collective emissions of greenhouse gases by at least 5 per cent compared to the year 1990. Each country is assigned an individual emissions target. An “emissions trading” regime is seen to stimulate the countries cut their emissions. Decree on Belarus’ acceding to the Kyoto Protocol was signed by the president of Belarus on August 13 this year.