London - BNP Paribas is pleased to announce that it has entered into two new contracts to purchase Certified Emissions Reductions (“CERs”), reflecting the expanding scope of the bank's international environmental markets platform. The CERs are contracted directly from Clean Development Mechanism projects, located in Mexico and in India. These new transactions add to BNP Paribas' diversified portfolio of CERs from several different countries.
CERs are tradable global compliance instruments, created under Kyoto Protocol rules, from projects which reduce emissions in developing economies. They can be used by governments seeking to meet Kyoto obligations as well as for compliance by companies exposed to national or regional environmental schemes, such as the EU Emissions Trading Scheme.
BNP Paribas has a dedicated carbon team of four professionals focusing on global emission trading, environmental risk management and financial services for a wide range of global corporate and institutional clients. Simon Dent, head of BNP Paribas' Carbon Team, said that “this recent purchase of CERs further underpins our commitment to supporting global environmental markets and the trading of emission certificates.”
BNP Paribas is also a significant trader of European emission allowances under the European Union Emissions Trading Scheme. Additionally, its commodity futures business, ‘BNP Paribas Commodity Futures Limited' is a leading clearer of emission contracts on the European Climate Exchange.
For further information, please contact:
Celeste Matta-Brown, Corporate Communications +44 (0) 207 595 4653
Shani Halstead, Corporate Communications +44 (0) 207 595 2436
Christian Del Valle, Environmental Markets +44 (0) 207 595 1884
Simon Dent, Head of Gas, Power, Coal, Carbon Trading and Marketing
+44 (0) 207 595 8506