News
RTRS-Dutch Nuon buys mln tonnes of CO2 under EU scheme
Source: Reuters
08:15 09 Nov 2004
Nuon will buy several million tonnes of Certified Emission Reductions, a type of emission credits, to be delivered from 2005 to 2007, it said in a statement.
AgCert, an international company with operations in Canada, Europe and the United States, is generating greenhouse gas emission reductions from the agricultural sector worldwide by modifying animal waste management practices.
AgCert is currently working with farms in Brazil and Mexico to supply Nuon, the statement said.
Nuon, one of the two biggest Dutch power utilities, did not disclose the exact amount of credits it would buy nor a price for the transaction.
The EU scheme, due to be launched on January 1, covers 12,000 installations and is the centrepiece of the bloc's efforts to meet its Kyoto protocol commitments and curb emissions of greenhouse gases which cause global warming.
Under the scheme, whose first phase is in 2005-2007, businesses are given permits for producing CO2 after receiving allocations covering their production under the so-called national allocation plans. Those companies which exceed their limits have to buy quotas from firms which undershoot their targets.
With this emissions purchase, Nuon plans to fulfil its own EU emissions trading scheme compliance targets and to hedge the portfolio of key customers, the company said.
Reporting by Anna Mudeva |