Decree No. 625 on 'Some GHG Emission Reduction Issues'
The decree confirms and updates the rules for carbon pricing through a voluntary GHG emissions reduction scheme under the UNFCCC and Kyoto Protocol, including reductions by non-nationals. It allows for non-nationals to buy carbon credits from voluntary GHG emission reduction projects. The revenues from the sale of GHG emissions reduction units are allocated to the National Fund for the Protection of the Environment and are to be specifically dedicated to:
- Measures supporting GHG emissions reduction through development of carbon sinks, energy efficiency measures, development of renewable technologies
- Administrative measures related to the operation of the voluntary GHG emissions reduction scheme, such as financing of an expert organization to determine eligible projects
- Development of national reporting and operation of the National GHG Inventory under the UNFCCC and Kyoto Protocol
- Support of research activities related to climate change and development of low-carbon technologies
- Training of experts and awareness-raising activities
Organisations carrying out emissions reduction projects benefit from tax exemptions on the investment equal to the value of purchased emissions reduction units.