CAF, Spain sign agreement for 9Mt worth of carbon credits
From an article in Business News America: “CAF, Spain sign agreement for 9Mt worth of carbon credits”
The Andean Development Corporation (CAF) has signed an agreement with Spain to buy 9 million tonnes of CO2 equivalents as carbon credits from Clean Development Mechanism (CDM) projects in Latin American and Caribbean countries, CAF said in a statement.
the article continues…
The agreement sets up the Ibero-American Carbon Initiative (IIC) to obtain the credits through public capital in addition to the 40Mt worth of credits contracted with the World Bank, the statement said.
The agreement to create IIC defines the priorities for the Spanish portfolio as technologies that promote sustainable energy systems, energy saving and efficiency, and renewable energy.
With this initiative Spain and CAF are contributing to the transfer of clean technologies and to the sustainable development of the region, the statement said.
The agreement is part of Spain’s general strategy to meet the objectives of the Kyoto Protocol.?
-DS
