Offers of Certified Emission Reductions (CERs)

Following a tender announced in September The Ministry of Finance (MoF) has received offers from about 10 different CDM projects in Asia, Africa and Latin America. The volume offered totals about 4 million CERs.

This is the first step in a series of purchases. Through this operation the Ministry of Finance is established as a participant in the international emissions markets, says Finance Minister Kristin Halvorsen. This time we chose to purchase our credits through an ordinary tender procedure. We will consider if this is a suitable procedure for our further purchases. We have had limited response from projects in smaller developing countries. In this regard we will have to strengthen our efforts and consider changes in the way we approach the market. It is important that these countries directly reap the benefits of our efforts to reduce greenhouse gas emissions, says Halvorsen.

MoF aims at signing contracts with one or more of the providers before Christmas, based on a thorough assessment regarding primarily price and expected delivery. Offers must also fulfil the scope and provisions of the tender invitation.

The Ministry of Finance is in the process of evaluating offers from a tender procedure that was closed 9 November.