Astarta agrees with International Carbon Credit Fund on sale of carbon credits

14:48

Kyiv-based Astarta Ukrainian Agricultural Holding has signed an agreement on sales of carbon credits with the International Carbon Credit Fund (MCCF) organized by the European Bank for the Reconstruction and Development (EBRD) and the European Investment Bank (EIB).

"We're selling carbon dioxide emission," Astarta director general, Viktor Ivanchyk, told the press in Kyiv on Wednesday.

It is foreseen that the fund will buy the major part out of 300,000 equivalent tonnes of carbon dioxide of carbon credits from five sugar refineries, which belong to Astarta Holding.

"The agreement on carbon credits produced from 2008 to 2012 is a first contract on purchase of credits signed by the fund in Ukraine," reads a company press release devoted to the signing of the agreement.

The sum of the deal is not disclosed.

The deal is a result of the project started by Astarta Holding and EBRD in May 2008, which is aimed at the increase in the efficiency of energy consumption at sugar refineries of the holding.

MCCF head, Jan-Willem van de Ven, said that the fund plans to sign similar deals in Ukraine.