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Russia's Rusal to Earn UN Emissions Credits at Aluminum Smelter
2011-01-20 12:03:23.121 GMT
By Catherine Airlie
Jan. 20 (Bloomberg) -- United Co. Rusal, billionaire Oleg
Deripaska's aluminum company, said it may earn as much as $15
million from selling United Nations emissions credits generated
by reducing emissions at a smelter in Russia.
Cutting production of perfluorocarbon, a greenhouse gas
more potent than carbon dioxide, at the site in Krasnoyarsk has
been approved by the UN's Kyoto Protocol to earn emission
reduction units, the company said in a statement. These are
tradeable credits that can be used by nations and European
factories and power stations to comply with emission caps.
The project, which slashed 464,500 metric tons of carbon-
dioxide equivalent in the two years through 2009, is expected to
cut a total of 1.16 million tons in the four years through 2012,
according to the statement.
UN ERUs for immediate delivery were 11.20 euros a metric
ton yesterday on the Paris-based BlueNext exchange. Carbon Trade
& Finance, a venture between OAO Gazprombank and Commerzbank AG,
is the buyer of offsets from the project, Rusal said.
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To contact the reporter on this story:
Catherine Airlie in London at +44-20-7073-3308 or
cairlie@bloomberg.net
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Stephen Voss at +44-20-7073-3520 or
sev@bloomberg.net
