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UN Delays Carbon Offsets as It Upgrades Computers (Update1)
2010-08-16 15:29:42.893 GMT
(Adds CDM comments from second paragraph.)
By Mathew Carr and Ewa Krukowska
Aug. 16 (Bloomberg) -- The regulator of the Clean
Development Mechanism, the world's second-biggest carbon market,
delayed issuing some offset credits because of modifications to
its computer systems.
The changes to the computer infrastructure were needed
after the regulator of the United Nations' program adopted new
procedures for reviewing projects that can earn offset credits,
the CDM said today in an e-mailed statement. The affected
projects include those linked to hydrofluorocarbons, according
to CDM.
"For technical reasons, the status of a few cases has not
been updated after the adoption of new review procedures by the
board," the CDM said. "It is expected that within the week,
the specific IT infrastructure will be deployed, and the status
of these projects will be available on the website."
UN Certified Emission Reduction credits are awarded to
investors that fund emission-reduction projects in developing
nations. They can be used for compliance in the European Union's
cap-and-trade program, the biggest carbon market.
Projects aimed at destroying a potent greenhouse gas called
hydrofluorocarbon-23 "were not the only projects that were
affected by these IT-related issues," the CDM said. HFCs,
emitted in the production of chemicals for air conditioning and
refrigeration, gained favor in the 1970s as an alternative to
chlorofluorocarbons, which scientists linked to depletion of the
ozone layer.
While HFCs don't interfere as much with the earth's shield
against damaging sunrays, they trap heat and contribute to
global warming. The EU has said it will consider limits on using
HFC-related credits for compliance, and the CDM is also
assessing whether the methodology for awarding those offsets
should be changed after allegations of misuse.
"Project developers and Designated Operational Entities
will be notified about the status of their projects even if
temporarily this is not shown on our website," CDM said.
For Related News and Information:
Emission market news NI ECREDITS <GO>
Today's top energy stories ETOP <GO>
European power-markets home page EPWR <GO>
Sustainability, environmental indexes SEI <GO>
--Editors: Mike Anderson, Reed Landberg.
To contact the reporter on this story:
Ewa Krukowska in Brussels at +32-2-237-4331 or
ekrukowska@bloomberg.net
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
