The Dow Chemical Company (USA) and Gazprom Marketing and Trading Limited (Russia) recently signed a memorandum of understanding (MOU) to develop and implement greenhouse gas (GHG) reduction projects on a global basis. Through this agreement, both companies will work together to identify projects that could cumulatively reduce millions of tons of carbon dioxide (CO²) emissions through the implementation of Dow technologies and other cooperative efforts. Gazprom Marketing and Trading will provide a route-to-market for emissions offsets and utilize its global counterparty base to bring Dow's technologies to market.
The two companies will work together to identify global projects that qualify for Clean Development Mechanism (CDM) or Joint Implementation (JI) status according to the United Nations Framework Convention on Climate Change (UNFCCC) requirements. Dow and Gazprom Marketing and Trading will also collaborate on projects in the evolving U.S. carbon market. The agreement reinforces both companies' commitment to setting the standard for sustainability by providing innovative solutions to the world's energy and climate issues.