About
In its Message on the Extension of the Kyoto Protocol (April 2014), the Swiss Federal Council quantified Swiss foreign certificates requirements over the period 2013 to 2020 at 12 million (each certificate standing for one tonne of CO₂ reductions). The Climate Cent Foundation therefore set itself the target to source a corresponding volume of certificates as quickly and cost-efficiently as possible, taking into account the requirements specified by the Swiss Federal Council in the CO₂ Ordinance as to the admissibility of certificates.
Outcome
The Climate Cent Foundation availed itself of the favourable market environment and purchased a total of 5 million CERs, to be delivered by the end of 2016, in two calls for tenders carried out in June 2014 and March 2015. It further signed direct contracts with three traders for the delivery of 7 million CERs by the end of 2017. The average price was about 50 eurocents per CER. The last of the total 12 million CERs were delivered in May 2017.