UN Body confirms Ban on Bulgaria for CO2Bulgaria
A United Nations body has confirmed its decision to revoke Bulgaria's accreditation for trading in carbon dioxide (CO2) emission allowances over non-compliance of the country's greenhouse gas emission verification system, the Environment Ministry said on Tuesday.
The ministry announced last month that the U.N. Compliance Committee of the Kyoto Protocol was set to pose a ban on Bulgaria after the country's previous government that stepped down in July of 2009 ignored a series of recommendations of the U.N. body made from 2007 to 2009.
"The U.N. Compliance Committee of the Kyoto Protocol taken a final decision, which confirms the conclusion from May 12 to revoke Bulgaria's accreditation for trading in CO2 emission allowances, including the international trade," the Environment Ministry said in a statement.
Bulgaria, however, was granted an opportunity to get a more favourable and accelerated procedure for restoring its accreditation, it added.
Environment Minister Nona Karadzova said last month that Bulgaria may recover its accreditation in November at the earliest.
In April, the European Commission approved the Bulgarian national plan for allocating CO2 emission allowances. It covers 132 installations throughout the country and calls for annual allocation of 42.4 million tonnes of CO2 allowances for the 2008 - 2012 European Emissions Trading Scheme (ETS), 37.4% less than the allocations proposed by the government in March 2009.
The ban on carbon trading cast doubts over the Bulgarian government\'s plans to raise up to 500 million levs ($316.6 million/255.6 million euro) from sales of greenhouse gas emissions this year.
(1 euro = 1.95583 Bulgarian levs) SEENEWS
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