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UN Carbon Regulator Flouting Copenhagen Agreement, Lobby Says
2010-09-01 14:36:54.968 GMT
By Mathew Carr
Sept. 1 (Bloomberg) -- Regulators of the United Nations
carbon market are flouting instructions agreed at last year's
climate summit as they deal with requests for emission credits
on a case-by-case basis, according to a group of project
developers.
The executive board of the Clean Development Mechanism,
which oversees the world's second-biggest emissions market for
the UN, has turned down 18 renewable energy projects in China
seeking tradable credits, London-based Project Developer Forum
Ltd. said in a letter published on its website. The board said
it is concerned that some developers in emerging countries may
be improperly using the so-called CDM.
"This decision goes explicitly against the decisions taken
in Copenhagen last year, where the executive board were
instructed to 'consolidate, clarify and revise, as appropriate,
its guidance on the treatment of national policies'," according
to Project Developer Forum Ltd., with members including JPMorgan
Chase & Co.'s EcoSecurities unit and Orbeo SA. The group sent a
letter last week to board Chairman Clifford Mahlung, according
to the website.
"It is not acceptable that projects are being rejected for
the fact that the executive board cannot internally agree on the
meaning of its own guidance," the group wrote. There's a risk
that the CDM may attract less investment for projects unless it
has clear rules, it said.
The UN held climate-protection talks in December 2009 in
the Danish capital and plan another session this December in
Cancun, Mexico.
For Related News and Information:
Top Power Stories: PTOP<GO>
Emissions-trading stories: NI ENVMARKET BN <GO>
Today's top energy news: ETOP <GO>
European power-markets home page: EPWR <GO>
--Editors: Mike Anderson, Rob Verdonck.
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 on +44-20-7073-3520 or sev@bloomberg.net
