VILNIUS - Lithuania has agreed to four deals to sell its spare emissions permits for the first time, reports Bloomberg. The government planned to sign agreements with buyers both during last week as well as into this week, Laura Dzelzyte, an adviser to the Lithuanian environment minister, said in an interview from Vilnius. She declined to identify the buyers or the size of the sale.
The transactions would be Lithuania’s first sales of United Nations overseen Assigned Amount Units, known as AAUs. Lithuania, which has 50 million surplus allowances through 2012 of greenhouse gas emission allowances granted under the Kyoto Protocol, wants to use the proceeds for subsidies, loans and investments in climate-change projects.
AAUs are assigned to developed and emerging nations that have greenhouse-gas emission targets under the 1997 Kyoto Protocol. The treaty allows countries with surplus AAUs to sell them to nations that have exceeded their quota.
Irena Degutiene, Lithuania’s parliamentary chairwoman, said on May 5 that the country plans to sell carbon permits to Luxembourg in a deal valued at 50 million litas (14.5 million euros).