After the plants are registered under the United Nations Framework Convention on Climate Change (UNFCCC), 4M tonnes of CO2 emission reductions are expected to be generated during the 21-year crediting period, while 320 000 tonnes of CO2 emission reductions will be realised before 2013.
“Standard Bank has been actively involved in the international carbon market since 2003,” said Mike Blades, Managing Director for International Business Development, Standard Bank. “We have successfully purchased and registered many CDM projects in China, and also participated in and purchased a large number of China-related CDM projects in global secondary markets. This deal serves as an excellent platform for future cooperation between Standard Bank and GD Power on additional carbon emission reduction projects in China”
