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Carbon Lobby Seek Three Steps From EU on UN Emissions Trading
2010-08-24 08:26:39.107 GMT
By Mathew Carr
Aug. 24 (Bloomberg) -- The International Emissions Trading
Association said confidence in the United Nations carbon market
is at a "very low ebb" and urged the European Commission take
steps to improve the situation.
The Geneva-based lobby group for traders requested more
certainty about the portion of UN offsets that can be used
through 2020. Should the bloc adopt stricter emission limits in
2020, it recommended that UN credits be eligible for half the
additional compliance effort in the region, it said today in an
e-mailed open letter to EU Commissioner Connie Hedegaard.
The commission, regulator of the world's largest carbon
market, should "bring to a close" the debate on which UN
offsets will be eligible in the eight years through 2020, the
letter said. Finally, the lobby sought development of new market
instruments, including potential programs to cut emissions by
protecting forests as well as capture and storage of carbon
dioxide emitted by power stations and factories.
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: Mike Anderson.
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
