Int’l - AgCert International Enters into Agreement to Sell Carbon Emission Credits
Published:May 18, 2005
Source :AgCert
AgCert International, a worldwide leader in greenhouse gas emission reductions, has signed an agreement to sell Certified Emission Reductions (CERs) to BHP Billiton, the world’s largest diversified natural resources company. The credits will be delivered during the first and second phases of the European Union Emissions Trading Scheme (EU ETS).
“We are very excited to be working with a company of the global scale and reach of BHP Billiton in this greenhouse gas reduction effort,” said Al Tank, Managing Director and CEO of AgCert. “This transaction is further evidence of AgCert’s position of leadership in the global CER market."
AgCert’s core business is generating greenhouse gas emission reductions from farm systems worldwide. The company works with farms to modify animal waste management practices in order to reduce the emissions. AgCert is currently working with farms in Brazil and Mexico to supply its customers. AgCert is qualifying its emission reductions as CERs under the Kyoto Protocol for use in the EU ETS and in other countries which are participants in the Kyoto Protocol.
The European Union has passed legislation mandating reductions in greenhouse gas emissions. Under the coming EU ETS, industrial companies producing emissions in excess of their allocated allowances will need to purchase emissions offsets or face fines of €40 per excess tonne, rising to €100 per ton by 1 January 2008. Companies are now seeking a cost efficient way to comply with their emission obligations.
