JCS «Cherepovetsk Azot» and the company Russian Fund Carbon have signed an investment agreement for the realization of a project, the purpose of which is the decline of greenhouse gases (nitrous oxides) emissions in the atmosphere, within the framework of the Kyoto protocol. Preparation of this agreement and the working of new legal aspects for the Russian side have occupied more than a year.
Realization of the investment agreement will be carried out in strict accordance with regulations of the Kyoto protocol, ratified by a Russian Federation on the first credit period (2008-2012), by the standards of international and Russian law.
A project focused on the decline of greenhouse gas emissions will be realized by JCS «Cherepovetsk Azot» within the framework of the general strategy of the company «Fosagro», for the decline of the negative effects on the environment. The dynamic increase of industrial production volumes loading will not impact on the environment. The project proposes catalytic decomposition of nitrous oxide on harmless nitrogen and oxygen.
The company Russian Fund Carbon develops and works on projects regarding the decline of greenhouse gas emissions on the territory of a Russian Federation and countries of the CIS. Leading international financial organizations are the basic shareholders of company, such as Merrill Lynch and others. RCF conducts the projects of joint realization on a few vertical lines, with potential decline of emissions on more than 100 million tons of CO2 for period of 2008-2012.