Estonia approves sale of AAUs to Sumitomo Mitsui
TALLINN (Reuters) - The Estonian government on Thursday approved the sale of half a million carbon credits, or Assigned Amount Units (AAUs), to Japan-based Sumitomo Mitsui Banking Corporation.
Countries that are comfortably below their greenhouse gas quotas under the Kyoto Protocol can sell excess or unallocated emission rights to other countries or companies as AAUs.
The government said in a statement it had approved a decision to sign the deal with Sumitomo. It gave no figure for the value of the deal.