Estonia Sells 1.5 Million Emission Credits to Japanese Mitsubishi
At Thursday's meeting, the ministers' cabinet approved the sale of 1.5 million AAUs - tradable carbon credits that represent the allowed release of one metric ton of greenhouse gases - to Japan's Mitsubishi Corporation.
The proceeds will be invested into improving energy efficiency for public buildings under the Green Investment Scheme, which aims to reduce energy consumption and carbon dioxide emissions.
Investments would improve breathable air quality in the buildings and create jobs in the construction sector. The plan would involve 20 state-owned real estate projects for educational, environmental protection and internal security facilities.
The going rate for Assigned Amount Units, as they are called, is estimated to be between 10 and 20 euros.