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Poland Agrees to Sell UN Carbon Units for 21 Million Euros

Nov. 19 (Bloomberg) -- Poland agreed to sell UN-sanctioned Assigned Amount Units to two World Bank carbon funds for 21 million euros ($27 million).

The sale, for an unspecified number of AAUs, is to the World Bank’s Spanish Carbon Fund and Carbon Fund for Europe, according to a statement on the Polish Environment Ministry’s website.

Poland has signed 10 deals worth 109 million euros to sell surplus AAUs, the ministry said. The country has agreed sales with Japan, Ireland, Spain and the World Bank, according to data compiled by Bloomberg. AAUs are allocated to 38 developed countries under the Kyoto Protocol and represent each nation’s cap on greenhouse-gas emissions. Each country must surrender AAUs corresponding to their verified discharges each year between 2008 and 2012. Surplus AAUs may be sold to countries with shortfalls of the permits.

Magdalena Sikorska, a spokeswoman for the Polish Environment Ministry, declined to comment on the number of permits sold.

To contact the reporter on this story: Alessandro Vitelli in London at avitelli1@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net

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