Austria to purchase 32 mln emission allowances
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E-mail Xinhua, April 5, 2012
Austria wants to purchase 32 million emission allowances to meet the emission reduction target set by the Kyoto Protocol, the Austrian environment ministry said Wednesday.
Austria was "not on target path" in terms of CO2 emission especially in the transport and space heating sectors, Austrian Environment Minister Nikolaus Berlakovich admitted at a press conference.
To avoid financial penalty, the shortfall of emission certificates will cost Austria some 160 million euros (about 211.6 million U.S. dollars) based on the current negotiation results.
"The price of five euros for each ton of CO2 is reasonable, so we need to act now," the minister said.
He also presented a series of measures to promote climate protection in 2012, which focus on renewable energy, energy efficiency and energy saving.
The Kyoto Protocol is a protocol to the United Nations Framework Convention on Climate Change (UNFCCC), with the aim to fight against climate change.
The Kyoto Protocol is a long-standing agreement, and its first commitment period, instead of the Protocol itself, will expire in 2012. (1 euro = 1.31 U.S. dollars)
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