about us | newsletter | contact | archive | members area
Tal Roma, AFI Europe Romania
In 2017, the companies were facing a more competitive labour market»

Gazprom M&T interested in Romanian carbon trading

London-based and Russian-owned Gazprom Marketing and Trading (GM&T) is looking for opportunities in the Romanian carbon trading market

November 2009 - From the Print Edition

“A significant amount of our activity is focused on central and eastern European carbon markets, therefore any new opportunities could be complementary to our current portfolio,” Maciek Stefanski, Regional Manager Global Carbon, Gazprom M&T, told The Diplomat.
In principle, carbon transactions with private and state owned Romanian companies are of interest to GM&T, states Stefanski.
GM&T is expanding to new markets, looking to be involved in transactions on voluntary emission reduction activities and internationally traded certificates, such as carbon credits including AAUs (Assigned Amount Units).
Romania has a massive excess of carbon credits to sell. Under the Kyoto Protocol, the country has to reduce gas emissions by eight per cent based on figures for its 1989 industrial output.
This means that between 2008 and 2012 Romania has the right to emit 1,279 billion tonnes of CO2 equivalent. According to this year’s data, Romania will release 37 per cent much less than the value agreed under the Protocol between 2008 and 2012.
This is due to the mass closure of inefficient and polluting Communist-era factories and the rise of the service economy.
This means Romania can sell AAUs for each tonne of CO2 it does not emit to developed countries. Romania must then use the cash from these carbon credits for green projects that help the environment to reduce gas emissions, such as rehabilitating central heating systems of Communist-era blocks or promoting renewable energy development, including solar, wind, biomass and small hydro power.
Such a project could bring billions of free money for green projects. “The Green Investment Scheme is an instrument which can bring surefire benefits to the economy and environment in the medium and long term,” says a spokesperson for the Romanian Ministry of the Environment.
Romania is currently drawing up a law which should allow the sale of carbon credits.

There are 0 comments:

Validation Code

0 Comments  |  11917 Views
Daily Info
Believe in people's potential

"The greatest danger for most of us is not that our aim is too high, and we miss it, but that it is too low, and we reach it." (Michelangelo Buonarroti) This is my motto that ...

Veeam estimates record growth, one billion USD turnover in 2018

Veeam Software posts another quarterly growth, 21 per cent higher than last year. Overall, the financial performance for 2017 was remarkable, with revenues of 827 million USD....

TransferGo attracts 8.6 million Euro financing for international expansion

TransferGo, the international fast online transfer company, has attracted a round of investment of 8.6 million Euro, which is the biggest amount received in a single financing...

Bucharest Henri Coanda Airport could get a new terminal

A new passenger terminal could be added to Bucharest's Henri Coanda International Airport (Otopeni), as part of an ample development project estimated at over one billion Euro...

New Kopel Car to import BYD electric vehicles in Romania

New Kopel Car Import, a SIXT Group Romania company, announced that it became the importer of BYD Electric busses and vehicles in Romania.






More on News
ING Bank Romania to accelerate business development through digitization

Customers are increasingly interacting with the bank through its digital platforms and are making more card payments, according to a report issued by ING Bank Romania.


TransferGo: We will come to a point where money transfers will be dominated by app usage

Cash will become obsolete and this will be the result of digital finance advancement, Marius Nedelcu, Country Manager at TransferGo told The Diplomat-Bucharest.

1 Comment

Great potential comes with big challenges

The residential market in Romania registered new record investments in 2017, one of its best years so far - and analysts said the trend will continue for sure this year.


Globalworth: The number of green accredited buildings continues to grow every year

Romania today is one of the few economies in Europe that had a consistent expansion over the past six years, outpacing EU average growth, Dimitris Raptis, deputy CEO and Ch...


UniCredit announces updates in the Mobile Banking application

UniCredit Bank launches new facilities in the up-to-date version of its Mobile Banking application to provide customers with a simpler and faster user experience.


ESOP: We expect that the green building trend further grows

The Romanian market is one of the most dynamic in the region due to the accelerated development in IT&C, BPO, shared services industries, and to the expansion of research &...

Immofinanz: Constant, visible shift towards energy efficiency on the local office sector

Romania's strong economic growth in 2017 placed the country in a leading position in the CEE region and the trend is expected be sustainable over the next years, Christian ...