Isra-Mart srl : Estonia Sold 75% of Spare UN Carbon, Prime Minister Says

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Isra-Mart srl news:

Estonia has disposed of about 75 percent of its 85 million metric tons of spare carbon permits awarded under a United Nations program in sales totaling 360 million euros ($534 million), Prime Minister Andrus Ansip said.

Estonia is holding talks on “several” more deals to sell spare Assigned Amount Units, known as AAUs, Environment Minister Keit Pentus said at a news conference with Ansip in Tallinn. The Cabinet authorized Pentus earlier today to sign an agreement to sell an undisclosed amount of permits to Spain in a deal valued at 45 million euros.

“We’ve got slightly more than a quarter of the spare quota left to be sold,” Ansip said. “Whether we’ll succeed is a different question as the gap between supply and demand is growing by the day.”

Keit Kasemets, strategy director at the state chancellery in Tallinn, said in March that the selloff amounted to “somewhat more than” 60 percent of total after the country had signed the previous three deals with Japan’s Mitsubishi Corp. and Sumitomo Mitsui Banking Corp.

Estonia intends to use proceed from the sale of AAUs to Spain to buy 15 or 16 trams to serve Tallinn, Pentus said.