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Expansion: Repsol buys emission rights from Shell (Repsol compra derechos de emision a Shell)

Expansion: Repsol buys emission rights from Shell (Repsol compra derechos de emision a Shell)

 

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Leading Spanish petrochemicals group Repsol YPF is to acquire 10,000 tonnes of carbon dioxide (CO2) emission rights from Anglo-Dutch petrochemicals giant Royal Dutch Shell. These rights have a market value of 205,000 euros.

The unique aspect of this operation is that the emission rights in question do not come from assignments given by the UK and Dutch government, but from an energy project in Brazil, where Shell is investing in a Clean Development Mechanism (CDM), a renewable energy project. According to the head of climate change at Repsol YPF, Jaime Martin Juez, it is the first example of the purchase and sale of emission rights associated with a CDM. The 30.2 million tonnes of CO2 emissions rights granted by the Spanish government to Repsol YPF last year expire at the end of 2007.

Original article by R. C.

Abstracted from Expansion

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