Saturday, September 29, 2007

Fortis group buys carbon rights

BBC NEWS | Science/Nature | Fortis group buys carbon rights: "A bank from the Netherlands has emerged as the winning bidder in an auction which marks a new phase in the global 'carbon market'. Fortis Bank has paid more than 13m euros ($18m) for the rights to emit 800,000 tonnes of carbon dioxide, in the first such auction to be held in a regulated exchange, the Brazilian Mercantile and Futures Exchange (BM&F). The credits were made available through the Clean Development Mechanism of the Kyoto Protocol."

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