Romania loses CO2 billions

The Supervisory Committee of the Kyoto Protocol has temporarily suspended Romania from European CO2 emissions trading on the grounds that in the past three years the Romanian agency for environmental protection (ANPM) has not managed to establish an inventory of CO2 emissions or sell emission certificates. This means Romania will lose out on three billion euros, the daily Adevărul complains: "The only advantage we can draw from the ruined industry we inherited from the communist era is regulated by the Kyoto Protocol: we can sell our emission certificates. That would have raised money without incurring debt, without co-financing, without tendering for projects. All it would have taken was a bit of paperwork, but no action was taken. ... A billion euros isn't chicken feed even for the German economy. The money could have been used to cover the entire deficit in the pension system. And the funds that were hitherto used for that purpose could have been put into the economy and infrastructure. ... It would have been a chance to escape the vicious circle of the crisis."

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