Poland has curbed its emissions far below the set limit and according to the cap and trade approach it is able to sell its allowances, wnp.pl reports. The new regulation describes the mechanism of allocating funds obtained from selling the extra credits. They are to be earmarked for supporting air and climate protection.

Under the act the Environment Protection Institute is established, designed to balance and manage emissions. The Institute is to run a national database of greenhouse gas (GHG) and other pollutants and a national register of Kyoto units. Its other tasks include developing emission indices, drafting reports and forecasts concerning emissions of GHG and other harmful substances.

Information on industrial, transport, agricultural and service activity along with respective GHG emissions is to be gathered within the scheme.
The ‘climate account’ into which funds obtained from selling emissions will be transferred, will be run by the National Fund for Environment Protection. The new law envisages setting up a national scheme for balancing and forecasting emissions.

At the global climate summit in Poznań last December, Poland signed a cooperation agreement with the World Bank enabling it to sell 10 million tonnes of emissions under the Kyoto Protocol. Also a tentative agreement was signed between Poland and Ireland under which it is to purchase emission allowances worth EUR15 million. The investments are to be co-financed by the Bank for Reconstruction and Development and European Investment Bank, wnp.pl reports.