September 27, 2007 11:41 ET

Fortis wins the first ever carbon auction in Brazil and acquires 808,000 carbon credits from the Sao Paulo government at Brazil auction

BRUSSEL, BELGIUM--(Marketwire - September 27, 2007) -

Fortis, global leader in the fast growing carbon market, announces its successful participation in the Brazilian Certified Emission Reductions (CER) auction - the first to be held on a regulated stock market. This underlines Fortis's commitment to support the functionality of the Kyoto Protocol framework, the market-based mechanism that has been implemented to address global warming by reducing Green House Gas (GHG) emissions.

Under the Kyoto Treaty on greenhouse gases blamed for global warming, companies that generate large amounts of polluting carbon dioxide and methane can buy offsetting credits from projects that remove contaminants.

On this market, the first auction of issued CER's in Latin America through a regulated exchange has been concluded yesterday in Brazil with a sale price of Eur16.20 per credit. The reserve price of the CER's had been fixed at EUR12.70, a 40 percent discount on the average price of European Union allowances over the past 10 days.

The credits were issued by the Bandeirantes sanitary landfill, where methane gases are collected by private company Biogás Energia Ambiental and used to generate electric energy.

Seb Walhain, Director Environmental Markets at Fortis comments : "By participating in the auction, Fortis brings an important contribution in facilitating GHG abatement projects in Brazil. Fortis considers such a project as crucial in reaching the GHG reduction targets as specified under the Kyoto protocol and is pleased to contribute to long-term environmental sustainable growth. Simultaneously, by securing project based CER's, Fortis is more able to facilitate its vast growing list of clients that may need to purchase carbon credits to align with their compliance targets and so compensate the pollution they produce".

Fortis: Fortis is an international financial services provider engaged in banking and insurance. We offer our personal, business and institutional customers a comprehensive package of products and services through our own channels, in collaboration with intermediaries and through other distribution partners. With a market capitalisation of EUR 35.1 billion (31/08/2007), Fortis ranks among the twenty largest financial institutions in Europe. Our sound solvency position, our presence in 50 countries and our dedicated, professional workforce of 60,000 enable us to combine global strength with local flexibility and provide our clients with optimum support. More information is available on

About Fortis Merchant & Private Banking: As an internationally operating wholesale bank, we provide integrated financial services to companies from internationally active medium size companies to large corporates, banks, institutional clients and wealthy individuals. We are active in every major industry with a worldwide presence and are well versed in a comprehensive array of products. We have developed special expertise and leadership in selected sectors: energy, commodities transportation and real estate. To medium-sized companies with cross-border activities and complex financial needs, we offer high value financial solutions, ranging from credit, risk and treasury management to international trade and financial engineering, through an integrated European network of 126 Business Centers. We also offer cross-border integrated services for asset and liability management to wealthy individuals, their families and their advisors. The offer combines all necessary skills: structuring, discretionary or advisory portfolio management, real estate, finance and insurance. For more information:

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