Hungarian
officials
acknowledge
plans
to
sell
nearly
2
million
tonnes
of
Certified
Emissions
Reductions
(CERs)
for
around
4bn
forint
($21m).
CERs
are
generated
by
projects
registered
under
the
UN’s
Clean
Development
Mechanism
(CDM),
and
theoretically
represent
one
tonne
of
saved
carbon.
Hungary
has
already
used
the
CERs
to
meet
its
emissions-reduction
obligations
under
the
EU
ETS.
Though
such
recycling
of
credits
sounds
fraudulent,
in
fact
it
is
legal,
due
to
the
separation
of
the
EU
ETS
and
the
emissions-reduction
targets
taken
on
by
signatories
to
the
Kyoto
Protocol.
Hungary
defends
its
actions
by…
