Supreme Audit Office to look into sale of carbon emission rights

The Supreme Audit Office is planning to look into the Environment Ministry’s selling of carbon dioxide emission rights. The audit will focus on how funds from the sales are used. A spokeswoman for the ministry said that this year, nineteen billion Czech crowns worth of emission rights have been sold. Most of them went to Japan and the company Mitsui. Since 2008, following a change in law, the Environment Ministry is authorized to sell surplus emission rights. In accordance with the conditions of the Kyoto protocol, proceeds from those sales can only go to the State Environmental Fund of the Czech Republic and have to be used towards measures that help cut overall carbon dioxide emissions.

Author: Sarah Borufka