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Finland’s government has signed an agreement to buy 1.4 million tons of CO2 emissions from a Chinese environmental company for 14.5 million euros ($18.26 million) by 2018 under the clean development mechanism (CDM) project, Finland’s Embassy in China said on Tuesday.
Finland will pay Beijing Hebayi Ecological Energy Development Company to purchase the Certified Emission Reductions (CERs) from household biogas reactors and biogas cookers in 210,000 households in Hunan province.
According to the purchase agreement, Finland will buy CERs for both the Kyoto period 2009-2012 as well as for the post-Kyoto period 2013-2018.
The CDM is under the Kyoto Protocol, which allows developed countries with a CO2-reduction commitment to buy carbon credits from developing countries.
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