CF round-up: Rhodia hedges carbon emissions receipts
French chemicals company Rhodia has announced several initiatives that will help Rhodia Energy Services optimize the value of its carbon emissions receipts, which have been generated from projects to reduce emissions at Rhodia’s plants in South Korea and Brazil. In its first hedge using carbon emission receipts, it has sold 8 million tonnes of CERs, of which 6.5 million will be sold at €15 a tonne, to be spread over 2007 and 2008.
It has also formed a joint venture with Société Générale Energie, which will sell Rhodia’s carbon emissions credits, using SG’s expertise and infrastructure. Rhodia Energy has also formed a technical partnership with a subsidiary of IXIS Corporate and Investment bank to help manufacturers find ways of generating future emissions credits.