Bulgaria Regains Emissions Trading Accreditation
Bulgaria regained its greenhouse emissions trading accreditation under the Kyoto Protocol on climate change, the Environment and Water Ministry and the Foreign Ministry said on Saturday.
This happened after the Enforcement Branch of the Compliance Committee of the Kyoto Protocol decided at its 12th Meeting in Bonn, Germany to completely and immediately grant Sofia's request to restore its accreditation. This opens up the country's link to the international register of emission transactions. It also reinstates the possibility for Bulgaria to share in European trading in emission quotas and units using the Kyoto mechanisms.
The country's right to participate in international carbon emissions trading was suspended on June 28, 2010 after the competent international institutions found that its emission inventory system had functioned poorly before 2009. The sanction caused much trouble to over 130 large Bulgarian enterprises and deprived the state of the chance to earn financial revenues by sharing in international emissions trading for seven months. The Environment and Water Ministry then took decisive steps to reform and strengthen the national emission inventory system by contributing to a team of experts along with the Ministries of Agriculture, Economy, Transport and Interior and the National Statistical Institute, among other institutions. The country's international moves were carried out in close interaction with the Foreign Ministry.
Thanks to these efforts, an October 2010 review requested by Sofia found impressive progress and no major outstanding issues, BTA reported.