Emissions Trading and GRK Emissions Offsetting: Two New Carbon-Trading Mechanisms Introduced

In order to support the Nationally Determined Contribution (“ NDC ”) and elaborate further on the various procedures that apply in relation to carbon trading within the forestry sector, as originally addressed under Regulation of the Minister of Environment and Forestry (“ Minister ”) No. 21 of 2022 on Procedures for the Application of Carbon Economic Value (“ Regulation 21/2022 ”) [1] , the Minister has issued Regulation No. 7 of 2023 (“ Regulation 7/2023 ”), [2] which has been in force since 15 June 2023.