Estonia to Sell More Carbon Credits to Japan
At its weekly cabinet meeting on December 2, the government approved the sale of approximately 3 million carbon quota credits to Japan's Marubeni Corporation.
The sale marks the second such transaction in as many months. In early November the government gave the green light to sell 1.5 million Assigned Amount Units, carbon credits that allow the release of one metric ton of greenhouse gases, to the Mitsubishi Corporation.
The pricetag for this week's sale is confidential, but AAUs typically trade for between 10 and 20 euros.
The revenue received will be invested in a project to renovate public buildings, making them more carbon efficient while also creating jobs in the construction sector, a press release from the Ministry of the Environment said.
There are 66 sites slated for renovation under the scheme, including schools, hospitals, cultural centers, sports facilities and nursing homes.