Quotas for Sale

Belarus hopes to get an access to trade in emission credits, or quotas, and a right to partake in joint projects in the scope of the Kyoto Protocol in November 2006 during a conference of the Kyoto Protocol participating countries, Minister for Natural Resources and Environmental Protection Leonty Khoruzhik told a news conference.

“In November 2005, Belarus joined the protocol, but we are not members of the Annex B group yet, so we are unable to sell the credits. We have worked out and submitted a corresponding application to all 168 participating countries. We hope we will be granted a right to sell quotas at the conference,” the minister said.

According to him, in its application Belarus assumes obligations to cut its greenhouse emissions to 5% below 1990 benchmark (of 112 million tonnes) to 106.4 million tonnes.

“Actually, Belarus’ greenhouse emissions are much lower. In 2004 and 2005 emissions were at 60 million tonnes. The difference in figures, at 55 million tonnes, is to be sold when Belarus joins the Annex B,” Leonty Khoruzhik said.
Belarus may implement the Kyoto Protocol by either participating in joint projects or selling emission credits.

Experts believe these projects may bring U.S. $250 million in investments in industry, agriculture and housing economy.

“A country that needs emission may transfer emission-cutting technologies to another country that reduces emission and, in turn, transfers unfilled quotas to the investor,” the minister explained.

He said there were about 100 companies in Belarus that were ready to participate in implementation of new technologies for free or on a parity basis.

The Kyoto Protocol, which aims to slow down global warming, came into effect on February 16, 2005 for 128 countries. The document demands a 5.2% cut in greenhouse gas emissions from the industrialized world as a whole, by 2012. Each country has been set its own individual targets according to its pollution levels.