Bulgaria Back in Carbon Trading in Autumn - Minister

The revocation of Bulgaria's accreditation under the Kyoto treaty will exclude Bulgarian companies from trading in greenhouse gas trading schemes. Photo by BGNES

Bulgaria can be allowed into carbon emissions trading under the Kyoto Protocol in the autumn, the economy and energy minister has announced.

“Bulgaria will get back its accreditation for carbon emissions trading by the autumn – the colleagues from the Environment Ministry started to work on that issue long before the news broke,” Minister Traicho Traikov told journalists on Friday.

The United Nations' committee is expected to revoke the country's accreditation under the treaty, which will exclude Bulgarian companies from trading in greenhouse gas trading schemes, on June 30.

Earlier in the week Bulgaria's Environment Minister Nona Karadzhova said Bulgaria will be suspended from carbon emissions trading under the Kyoto Protocol if a United Nations' committee confirms its preliminary decision to revoke its accreditation under the treaty.

Speaking at a forum in Sofia Thursday, Karadzhova said a UN report under the Framework Convention on Climate Change has exposed “devastating” flaws of Bulgaria’s National System for Evaluation of the Greenhouse Gas Emissions.

The Environment Minister blamed the problems on the inactivity on part of her predecessor, Dzhevdet Chakarov.

Under the Kyoto Protocol, Bulgaria agreed to reduce its CO2 emissions by 8% compared to their 1988 level and emit no more than 130 million tonnes of CO2 a year.

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