Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Bank Buys Carbon Credits

JPMorgan Chase has bought United Nations Emission Reduction Units from Sibur Holdings, according to an e-mailed statement from Eastern Europe's biggest petrochemicals producer.

The deal, coordinated by Sberbank, was for 1.2 million tons of credits from a project in Russia to increase processing of associated petroleum gas in the Khanty-Mansiisk autonomous district, Sibur said in the statement, without disclosing the price for the credits.

The project is set to earn 8 million tons of credits, according to the e-mail.


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more