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Gold/Mining/Energy : Mosenergo ADR

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To: Copperfield who started this subject	12/24/2003 3:11:56 PM
From: Copperfield	of 241

AO MOSENERGO plans to control greenhouse gas emissions 27.12.2003 AO MOSENERGO's board of directors decided to organize control over greenhouse gas emissions. In conjunction with the Power Carbon Fund, AO MOSENRGO plans to develop a special program aimed at implementing market mechanisms that make it possible to control and reduce greenhouse gas emissions. These mechanisms are based on the Kyoto Protocol signed within the UN convention on climate changes. The program will provide for a wide range of control measures based on registering, monitoring and recording greenhouse emissions. In addition, AO MOSENERGO plans to conduct ecological assessments of construction projects and programs, as well as technical upgrades and renovations that reduce the level of emissions. The Company will focus on forecasting fluctuations in greenhouse emission levels, searching for potential investors, and developing the system for cessation of rights on greenhouse gas emissions. AO MOSENERGO is keen to improve environmental protection in the process of its operations. Last year, AO MOSENERGO's branches implemented a set of environmental measures. The company installed 14 permanent emission control units at 9 power stations, upgraded the boiler at CHP-22, installed low toxic gas and fuel oil burners at boiler no. 1 (CHP-23) and boiler no. 14 (CHP-21). During the last decade AO MOSENERGO reduced the level of pollutant emissions by 58%. RAO UES set up the Power Carbon Fund in June 2001. The Fund works to organize the system for controlling greenhouse gas emissions and financing programs that are aimed at reducing these emissions. RAO UES's emissions account for more than one third of Russian and 3% of global greenhouse gas emissions.

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