We advised our client in the process of conclusion and execution of contracts for the purchase of emission reductions with the European Bank for Reconstruction and Development (EBRD). ERUs are generated by project construction and operation of facilities producing electricity from renewable energy sources in Bulgaria and they are certified and verified in accordance to the mechanism of "Joint Implementation" under Art. 6 of the Kyoto Protocol. ERUs are purchased by the EBRD on behalf of the Netherlands, as the Dutch bank manage Cooperation Fund to reduce emissions under the Cooperation Agreement of 27 October 2003, concluded between the EBRD and the Netherlands. Due to expiration, the contract was terminated in 2013.
Practice: Environment and natural resources
