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(From Hungarian News Agency (MTI))
Budapest, June 29, 2005 (MTI-ECONEWS) - The Ministry of the Environment has announced it will distribute Hungary's first CO2 emissions credits in September. The 30,485,000 credits, roughly a third of the total the ministry will allocate for 2005, 2006 and 2007, have a market value of around HUF 164bn.
The credits, a product of the Kyoto Protocol, allow businesses to emit one tonne of CO2, a greenhouse gas. But the number of credits businesses get free of charge is linked to an emissions level significantly lower than the level twenty years ago.
About 240 of Hungary's industrial businesses will get credits for …