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Sumitomo Mitsui Bank to start small-lot selling of CO2 emission right

7, 05. 2007

Sumitomo Mitsui Banking Corp. announced on June 18, 2007 that it will securitize carbon dioxide (CO2) emission right for selling by small lot at 10 million yen minimum. To start with, the bank will buy the right to emit almost 10,000 tons (in terms of CO2) from a biomass electricity generating plant in Brazil and sell the right through Mori Trust Co., Ltd., Sumitomo Mitsui Card Co., Ltd. and SMBC Leasing Co., Ltd. It will be the first time for a Japanese bank to engage in small-lot selling of the emission right by utilizing its trust function. A public relations official at the bank said the bank hopes to improve the brand image of the bank as a firm coping with the environmental issue by promoting the emission right business.

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