CARBON FACILITY DEAL
February 1st, 2003
BY KEITH NUTHALLBRAZILIAN steel producer V&M do Brazil has struck the largest deal to date under the Kyoto Protocol Clean Development Mechanism. It will see the steel maker selling five million tonnes of greenhouse gas reductions for Euro 15 million to an International Finance Corporation/Dutch government fund, the IFC-Netherlands Carbon Facility. The pollution saving will come from V&M using sustainably-produced charcoal instead of coal for steel production, leading to the reduction of more than 21 million tonnes of carbon dioxide equivalent emission ...
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