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UN Emissions Board Says No New Factories Will Get HFC Credits
2010-07-30 23:27:05.536 GMT
By Mathew Carr
July 30 (Bloomberg) -- No new chemical factories will
receive tradable emission credits from facilities that destroy a
type of gas linked to climate change amid concerns over
improperly obtained credits, United Nations-overseen regulators
said.
The regulators called for more investigation into the
supply of offsets from factories that combust the gas
hydrofluorocarbon-23, or HFC-23, at a meeting today in Bonn,
Germany. Credits from the destruction of HFC-23, which has a
global warming potential 11,700 times that of carbon dioxide,
make up about half of all credits produced so far in the second-
biggest carbon market, the Clean Development Mechanism.
CDM Watch, the environmental lobby group based in Bonn,
repeated claims today that some chemical factories were boosting
production of HFC-23 to improperly obtain credits, according to
an e-mailed statement.
"No new factories can qualify and the amount of credits
that a project can earn is tied to historical production levels
and established waste-to-product ratios, safeguards intended to
prevent production increase simply to earn credits," the CDM
executive board, which oversees the UN market, said today in an
e-mailed statement.
For Related News and Information:
Emission market news NI ENVMARKET <GO>
Today's top energy stories ETOP <GO>
European power-markets home page EPWR <GO>
--Editor: Greg Chang.
To contact the reporter on this story:
Mathew Carr in London at +44-20-7073-3531 or
m.carr@bloomberg.net
To contact the editor responsible for this story:
Stephen Voss at +44-20-7073-3520 or sev@bloomberg.net
