Ivor Callely
Question:564 Mr. Callely asked the Minister for the Environment, Heritage and Local Government the operation of carbon credit purchasing; and if he will make a statement on the matter. [13879/07]
View answerThursday, 5 April 2007
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Written answers
The National Climate Change Strategy 2007-2012, which I published earlier this week, includes limited provision for the purchase of Kyoto Units by the State so as to assist compliance with the Kyoto Protocol in the period 2008-2012. The Strategy also sets out an explicit National Policy Framework for this purpose; this will inter alia guide the National Treasury Management Agency (NTMA), which will act as a National Purchasing Agent for the State in the conduct of its role.
To date, my Department has committed to investing €20m in the Multilateral Carbon Credit Fund offered by the European Bank for Reconstruction and Development, and a further €20m in Funds offered by the World Bank. In the case of the World Bank, €10m is committed to the second tranche of the BioCarbon Fund and €10m to the new Carbon Fund for Europe.
The Carbon Fund Bill 2006, which came into effect this week, makes provision for the designation of the National Treasury Management Agency as Purchasing Agent for the State. Further purchases will be a matter for the Agency, having regard to the purchasing framework set out in the National Climate Change Strategy.