A national register for quotas of harmful emissions would be launched in Bulgaria in the beginning of 2008, Environment and Water Affairs Ministry announced.

Each Bulgarian company quota transaction will be carried out through the register, investor.bg said. Thus trade in harmful emissions quotas would be opened.

It was still unclear whether the harmful emissions trade would be liable to taxes and what the amount of these taxes would be, Environment and Water Affairs Ministry said. Finance Ministry is to consider the taxes.

According to Bulgaria’s national plan for climate change, by 2010 the amount of harmful greenhouse gas emissions released in the atmosphere should be decreased by nearly 10 000 tones.

The European Commission recently reduced the proposed CO2 emission allowances in the Bulgarian national plans for 2007 and 2008-2012, by 37.4% to 42.3mn tonnes per year, which meant the country would lose the opportunity to sell excess emission allowances. These were valued at about 575mn euro annualy, intellinews said.

If the EC would confirm its previous decision, Bulgaria would appeal the decision at the European Court, Environment and Water Affaris minister Dzjevdet Chakurov said. He added he believed they would win the dispute.