9 Jun 2005

Carbon trading under Kyoto Protocol in Fiji

11:12 am on 9 June 2005

Fiji has reported its first sale of carbon credits under the Kyoto Protocol.

The Daily Post reports that the sale has been arranged by a joint venture between the Fiji Electricity Authority and Pacific Hydro Limited negotiated by Sustainable Energy Limited.

The chairman of the FEA, Joe Mar, says Sustainable Energy Limited will sell all the reductions in certified carbon emissions arising from two small hydro power plants totalling 9.5 megawatts on Viti Levu.

Carbon trading is permitted under the Kyoto Protocol to enable industries in developed countries to offset their carbon dioxide emissions against reductions elsewhere.