Isra-Mart srl: Neste Oil invests E5 million in GreenStream to reduce CO2 emissions

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Neste Oil, a Finland-based company engaged in the refining and marketing of oil, has invested E5 million in GreenStream's Climate Opportunity Fund, which finances projects aimed at reducing CO2 emissions in developing countries.

The investment is part of Neste Oil's worldwide greenhouse gas balance management program and will give the company access to emission allowances under the EU emissions trading scheme for the trading period beginning in 2013.

"Reducing climate impact and managing our greenhouse gas balance are important goals for us," says Neste Oil's Energy Director, Jussi Hintikka. "In addition to acquiring emission allowances, the new fund investment enables us to support environmental projects in developing countries and meet our own emissions trading obligations."

The investment is a continuation of Neste Oil's cooperation with GreenStream that began during the current emissions trading period. The fund invests in projects including renewable energy initiatives in China that have the potential to reduce CO2 emissions several millions of tons by 2020. GreenStream Network Plc is the Nordic region's leading asset management company in the climate and renewable energy markets with current assets under management totaling some EUR 170 million