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Poland Will Sell Carbon Permits From Double-Counting Reserve

March 7 (Bloomberg) -- Poland hired Warsaw Stock Exchange to sell European Union carbon allowances on that were set aside to prevent double-counting of emission reductions.

The auction will be held on April 2, according to an e-mailed statement from bourse.

The 210,417 metric tons of permits are from a reserve set up because the nation cuts greenhouse gases through Joint Implementation projects overseen by the United Nations, according to a March 2 statement by the Polish emissions agency.

For each JI credit created, an EU allowance from the reserve is canceled, according to the bloc’s rules. The reserve was set up before nations knew the number of credits that would be created in the five years through 2012.

To contact the reporters on this story: Marek Strzelecki in Warsaw at mstrzelecki1@bloomberg.net; Mathew Carr in London at m.carr@bloomberg.net

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

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