The Law on financial Instruments for Climate Change Management addresses the rights, duties and liability of the people engaged in economic activities resulting in greenhouse gas emissions as well as the sphere of competence of state institutions and bodies. The Law supports fulfilment of Lithuania’s obligation resulting from its membership in the EU and in the Kyoto Protocol.
The Law also establishes and/or adopts following:
- Special Programme for Climate Change: funds gathered through GHG trading system will be allocated to the Programme which will be responsible for management and distribution of gathered financial means for projects supporting end implementing energy efficiency, renewable energy, reforestation, measures of adaptation and mitigation of climate change. Programme also supports educational projects in previously enlisted areas.
- Greenhouse Gas Emission (GHG) Allowance Trading Scheme;
- GHG Registry;
- National Strategy for Climate Change Management Policy and the Plan of Implementation Measures.
- Multiple end-uses
- Electricity end-uses