Memorandum to enable carbon credit sale to Japan
Czech Environment Minister Martin Bursík and Japan’s ambassador to the Czech Republic Hideaki Kumazawa on Tuesday signed a memorandum enabling the sale of carbon credit units to Japan. The document will allow the Czech Republic to sell carbon credit units gained since 1990 by cutting greenhouse gas emissions to a lower level than the country is bound to by the Kyoto Protocol. The ministry expects the sale to generate 10 to 25 billion crowns. Proceeds from the sale will go the State Environmental Fund.