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The Brazilian Mercantile & Futures Exchange (BM&F) will conduct an auction on September 26, 2007 for the sale of Certified Emission Reductions (CER) held by the São Paulo Municipal Government. This groundbreaking event will be the world’s first CER spot market auction to be managed and promoted by a regulated exchange, representing an important initial step in the organization and development of a global market for environmental certificates.
Under the auspices of the Clean Development Mechanism (CDM), BM&F will auction off carbon credits representing 808,450 metric tons of carbon dioxide equivalent. These credits, issued by the CDM Executive Board, are currently held by the Bandeirantes Landfill Gas to Energy Project of the São Paulo Municipal Government.
The auction will be carried out via the Internet and will count on the participation of the BM&F Settlement Bank, which will provide cash settlement services.
Auction participation requirements, as well as trading rules and procedures will be detailed in the notice available on the following Websites:
http://www.bmf.com.br/carbonauction
and http://portal.prefeitura.sp.gov.br/secretarias/financas/leilaocarbono/0001/
More information on this auction is available to market participants at the following e-mail address: supervisor@bmf.com.br. Press information must be obtained from the BM&F Press Office (at fatima@bmf.com.br) and from the São Paulo Municipal Government Press Office (at jpacola@prefeitura.sp.gov.br and cassialopes@prefeitura.sp.gov.br).
