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Zeroemissions becomes a member of the Spanish Carbon Fund Management Board

March 18, 2008

During the last annual Spanish carbon Fund meeting, held in February in Madrid, Zeroemissions was chosen as a member of the Participants' committee.

The Committee's task is to give advice to the World Bank about Fund management operational activities, as well as to check the projects involved in the Fund: from the PIN or Project Idea Note studies, up to the revision of budgets. It is the committee’s task to explore new sectors or projects at stake for investment.

 Zeroemissions has been chosen to held this post for one year together with Iberdrola and Hidrocantábrico

The Spanish Carbon Fund was established in 2005 with an initial aid of M€170 to buy reduction emission credits from Clean Development Projects, with the objective to contribute to fulfill the Kyoto commitment.

Abengoa, through its society, Zeroemissions Carbon Trust has more than four million euro committed to this Fund mainly investing in energy efficiency and renewable energy projects in countries in transition to market economies,specially around the Latin American Region.Abengoa is the first Fund private investor only behind a few electrical companies.

Zeroemissions, Abengoa's company which provides global solutions for Climate Change through the promotion, development, and trade of carbon credits (CDM/JI), carbon offset services and innovation in technologies for greenhouse gasses reduction.

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