São Paulo Sells Carbon Credits
City of São Paulo sells carbon credits for €13.689 million
Mercuria Energy Trading, from Geneva, bought the lot at €19.20 per metric ton of carbon. The São Paulo Municipal Government received an equivalent of €13.689 million for the carbon credits (approximately BRL37 million), representing a premium of 35.21% in comparison to the minimum bid of €14.20 per ton. Ten institutions were authorized to take part in the auction - eight of them placing bids.
The second auction of Certified Emissions Reductions (CERs), held by the São Paulo Municipal Government, took place last week, September 25th at BM&FBOVESPA. A total amount of 713,000 CERs were auctioned in a single lot under the terms of the Clean Development Mechanism - 454,343 CERs from the Bandeirantes landfill Energy Project and 258,657 CERs from São João landfill Energy Project.
The Mayor of São Paulo, Gilbert Kassab, and BM&FBOVESPA's Chairman, Gilberto Mifano, were present during the auction, which was held at the Exchange.
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