CARBON CREDITS: 713,000 CERs sold in São Paulo

SÃO PAULO, 9/25/08 - The Brazilian BM&FBovespa exchange held on Thursday a second auction of Carbon Emission Reduction Certificates (CERS) owned by the São Paulo's Mayor Office. 713,000 CERs wer auctioned.

Swiss company Mercuria Energy Trading bought the entire tranche for €19.20onne of carbon, to a total of €13.689 million (approximately R$37 million). The price is 35.21% lower than the €14.20 euroonne originally set. Ten institutions took part in the auction and eight made bids. (Newsroom/ DCooke - InvestNews)