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China: Biggest Carbon Trade Initiated, First 1M Tons Approved for Trading


PetroChina gets green signal from the UN CDM Board to trade its carbon indicators equaling a little less than 1 million tons. The credits, acquired though a nitrous oxide (N2O) CDM project by Liaoyang Petrochemical, are a part of Chinas biggest carbon deal.

China Biggest Carbon Credits Deal with CDM Project

The environmental impact of nitrous oxide is around 310 times more than that of CO2. A representative of Liaoyang said that NO2 is transformed into nitrogen and oxygen and GHG reductions would equal 12 million tons of carbon dioxide in a year, where the company has N2O emissions of more than 40K tons per annum.

Canadian NAM and Goldman Sachs are amongst the buyers of carbon credits obtained through this CDM project.

Related posts:

  1. Sterling Planet to Purchase United States’ First VCS Approved Units
  2. China #1 Supplier of Carbon Credits Falls Short Of Key Goals
  3. UNFCCC Gives Out Nearly 25,000 Carbon Credits to Indian Lanco Industries
  4. Up to 0.6 B Tons of Yearly Emissions Cuts Possible through Protection of Tropical Rainforests
  5. Camco Sells Over 150K Tonnes of CERs from China Coal Mine Project

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