---
Sent From Bloomberg Mobile MSG
+------------------------------------------------------------------------------+
UN Eyes November HFC Offsets Decision, Signals Review Requests
2010-09-18 10:00:00.670 GMT
By Ewa Krukowska
Sept. 18 (Bloomberg) -- The executive board of the United
Nations Clean Development Mechanism plans to decide in November
about the issuance of credits linked to the potent industrial
gas, hydrofluorocarbon-23, a report showed.
The board of the world's second-largest carbon market,
meeting from Sept. 13 to Sept. 17 in Brasilia, discussed credits
from projects that cut HFC-23 as the program's expert panel
assesses whether the methodology of awarding those offsets
should be changed following allegations of misuse, according to
the report published on the UN website.
The CDM generates emission-reduction credits to investors
in projects that cut greenhouse gases in developing nations. The
offset credits, known as CERs, can be used for compliance in the
European Union carbon market, the world's largest.
"The board needs to answer whether safeguards built into
the HFC-23 methodology remain sufficient," the CDM said in an
e-mailed statement today. "Meanwhile, the board has signaled
that requests for issuance of CERs made for those projects, of
which there are 19 registered, would receive a request for
review as a matter of course until the matter is concluded at
the board's 58th meeting."
The 58th meeting of the board is scheduled to take place
from Nov. 22 until Nov. 26 in Cancun, Mexico, according to the
United Nations Framework Convention on Climate Change website.
The CDM board, which has already requested a review of nine
HFC-23 projects since August and asked investors to answer
additional questions, said it encouraged those who have not
received such requests to submit information sought by the board
on a voluntary basis.
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>
--Editors: Andrew Clapham, Carey Sargent
To contact the reporter on this story:
Ewa Krukowska in Brussels at +32-474-620-243 or
ekrukowska@bloomberg.net
To contact the editor responsible for this story:
Stephen Voss at +44-20-7073-3520 or
sev@bloomberg.net
