January 20, 2011 / 9:32 AM / 9 years ago

Estonia approves sale AAUs to Japan's Sumitomo Corp

TALLINN, Jan 20 (Reuters) - The Estonian government on Thursday approved the sale of an additional 1.6 million carbon credits or Assigned Amount Units (AAUs) to Japan-based Sumitomo Corporation.

Countries comfortably below their greenhouse gas targets quotas under the Kyoto Protocol can sell excess or unallocated emission rights to other countries or companies as AAUs.

The government said in a statement it had approved the sale at its meeting, although the value of the deal was not given and with the proceeds from the sale going to improve the energy efficiency of buildings used by local governments in Estonia.

The small Baltic country with a population of 1.3 million has been very active in selling its AAUs and already signed or approved more than six AAU sale-purchase agreements in 2010. (Reporting by David Mardiste; editing by James Jukwey)

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