31/08/2009 (Agence Europe) - In the first such transaction in Russia, carbon credits generated by utilising gas which would otherwise be flared at an oilfield in eastern Siberia are to be purchased through a carbon fund set up by the EBRD and the European Investment Bank (EIB), the Multilateral Carbon Credit Fund (MCCF). The gas which will be re-utilised under this scheme is a by-product of oil extraction. The underlying project involves Irkutsk Oil. The EBRD holds an 8.15 percent stake in...