TALLINN (Reuters) -- Estonia on Thursday approved the sale of 10 million carbon credits or Assigned Amount Units (AAUs) to Japan's Mitsubishi Corp. and 5.5 million AAUs to Japan's Sumitomo Mitsui Banking Corporation.
Countries that are comfortably below their greenhouse gas targets 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 that it had approved the decisions to sign the deals with Mitsubishi and Sumitomo Mitsui, although the value of the deals were not given.
The government said that the deal with Mitsubishi Corp. is conditional on it buying 507 Mitsubishi electric cars and the building of a recharging network before the end of 2012.
The small Baltic country with a population of 1.3 million was very active in selling its AAUs last year and has three deals in 2011.