Poland Sells Spain $37M In Carbon Emission Credits

Law360, New York (November 10, 2009, 1:27 PM EST) -- Poland has entered into its first Green Investment Scheme deal with Spain under the Kyoto Protocol, which will allow Poland to ship surplus carbon emission allowances to Spain in exchange for funds that will be used to support Polish green energy development and carbon reduction efforts.

Under the terms of the deal, Poland will net €25 million ($37.5 million) in direct grant investments from Spain, plus as much as €75 million ($112.4 million) more in climate-friendly co-financing supplied by the European Bank for Reconstruction and Development...
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