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ARTICLE · 25 FEBRUARY 2008

Environmental Law Newsletter

Barbosa, Mussnich & Aragao Advogados
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On September 26, 2007, the Mercantile and Futures Exchange (BM&F) held its first auction for the sale of CERs (Certified Emission Reductions), i.e., carbon credits that are being generated as part of MDL, which is one of the flexibilization mechanisms provided for in the Kyoto Protocol.

BrazilEnvironment
Pedro Lehmann Baracui
Pedro Lehmann Baracui
Monica Jaén
Monica Jaén
Thiago De Moura
Thiago De Moura

CARBON MARKET

First Auction To Sell Carbon Credits In Brazil

On September 26, 2007, the Mercantile and Futures Exchange (BM&F) held its first auction for the sale of CERs (Certified Emission Reductions), i.e., carbon credits that are being generated as part of MDL, which is one of the flexibilization mechanisms provided for in the Kyoto Protocol.

In the auction, 808,405 carbon credits were sold, all of which had been generated under the methane burning project developed at the Bandeirantes landfill, which belongs to the Municipality of São Paulo. The winning bidder was Banco Fortis NV/SA that paid approximately 16.20 Euros per ton of carbon equivalents, in a total of approximately 13.096 million Euros.

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