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Law No. XI-329 On climate change management financial instruments .

Type of law

This Law establishes the rights, duties and responsibilities of persons engaged in economic activities in which the greenhouse gases are released to the atmosphere, as well as the competence of state institutions and bodies. The National Climate Change Management Policy Strategy covers the following areas of government governance: (a) environmental protection and rational use of natural resources; (b) energy; (c) tax and finance; (d) science; (e) industry; (f) health care; (g) education and public awareness; (h) international cooperation; (i) transportation; (j) home affairs; and (k) agriculture. The National Climate Change Management Policy Strategy, taking into account the country's strategic objectives and/or international commitments, can also be addressed to other areas of public governance related to adaptation to climate change and mitigating the effects of climate change. The National Climate Change Management Policy Strategy and its Implementation Plan shall be implemented by: (a) the Government, ministries or other institutions authorized by the Government according to their competence; and (b) municipal institutions. Operators must monitor, record and report on emissions of greenhouse gases in accordance with the procedure established by the Minister of the Environment together with other authorized institutions appointed by the Government. For each calendar year operators are required to submit by the deadline to the Minister of Environment data related to a quantity of emissions within established quotas of carbon dioxide expressed in tonnes into the atmosphere that aredeclared in the greenhouse gas register, that must correspond to the previous year. Operators may, instead of the quotas, may reduce emissions that are recognized by the Minister for the Environment in the European Union's greenhouse gas emission quota trading scheme, which are recognized as co-operative and clean development projects. The funds received for the transferred allowances and Kyoto units must be used by the operators for the implementation of measures to reduce greenhouse gas emissions and other measures to reduce the pollution of the environment (introduction of environmentally friendly technologies, increase of energy efficiency, use of renewable energy sources, reforestation and/or to provide research and development works and their dissemination, to advise and train economic operators, to inform and educate the public on issues related to the management and implementation of climate change policy and other measures). The permit(s) for the emission of greenhouse gases shall be issued, amended, modified and repealed by the authorized institution of the Minister of Environment in accordance with the procedure established thereby. The procedure for the allocation of emission quotas to functioning operators and operators planning to manage new equipment or new aircraft, and other persons who wish to acquire and use or dispose of emission quotas, shall be established by the Minister of the Environment jointly with other institutions authorized by the Government. The Law consists of VII Sections divided into 23 Articles. Section I lays down general provisions. Section II establishes National Strategy for Climate Change Management Policy. Section III emission quota trading in accordance with Kyoto Protocol. Section IV regards joint implementation and security development projects. Section V regards heating efficiency gas register. Section VI establishes liability. Section VII lays down final provisions.
Date of text
Entry into force notes
This Law enters into force on 1 January 2012.
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