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Kyoto Protocol: Austria Spends € 160m

Published: April 4, 2012; 17:04 · (Vindobona)

Austria will invest € 160m ($213.4 million) in climate protection projects in Europe to cover the gap it faces to meet commitments under the Kyoto Protocol, Environment Minister Niki Berlakovich said.

Kyoto Protocol: Austria Spends € 160m / Picture: © Vindobona.org

Berlakovich commented the money would go towards "green investment scheme" projects in other European countries. Austria needs to buy the equivalent of 32 million tonnes of carbon dioxide (CO2) to meet its carbon reduction requirements under the Kyoto accord, he said in a statement. While the price for certificates was € 15 per tonne a year ago, it was now around 5 euros, he…

This article includes a total of 157 words.

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