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Russia can deliver as many as 200 million metric tons of emission credits under the United Nations’ Joint Implementation program, OAO Sberbank said.

The bank, acting as Russia’s agent, plans to coordinate Russia’s first carbon-credit sales in October under a program to reduce emissions, Vsevolod Gavrilov, head of carbon projects at Moscow-based Sberbank, said today in St. Petersburg.

Sberbank, which approved 15 carbon-reduction projects in July, will probably hold a tender within a few days and another later this year to allocate more than 30 million tons of credits, Gavrilov said. The nation is seeking a minimum 10 euros ($12.87) a ton for each of the so-called Emission Reduction Units, he said.

The Joint Implementation program, the second-biggest UN offset system, creates credits for projects to curb greenhouse gases in the five years through 2012. The investment bank at Barclays Plc forecasts the supply of credits from all nations will reach about 200 million in the period, about a quarter of them from Russia, London-based analyst Trevor Sikorski said today by phone.

“Russia is entering a new export market with a new export product,” Gavrilov said. “It’s significant that Russia will be exporting not only its natural resources but also its environmental-responsibility products.”

Bloomberg, 6 September 2010