(BN) Carbon Drops After UN Board Allows Issuance to HFC-23

quoted you here thanks sir and updating...you saw the dec 10 cer eua spread at 3.18!...cheers


Carbon Drops After UN Board Allows Issuance to HFC-23 Projects
2010-11-29 09:11:13.573 GMT

By Ewa Krukowska and Mathew Carr
Nov. 29 (Bloomberg) -- United Nations emissions offsets
slumped to a four-month low after the board of the world's
second-biggest carbon market approved some issuances to projects
that cut hydrofluorocarbon-23 previously placed under review.
UN Certified Emission Reductions for December 2010 lost as
much as 4 percent to 11.75 euros a metric ton, the lowest level
since July 29, and were at 11.90 euros as of 8:33 a.m. in
London. European Union allowances for December this year fell
1.1 percent to 14.91 euros.
At a meeting ended on Nov. 26 in Cancun, Mexico, the Clean
Development Mechanism executive board allowed issuance of almost
20 million credits to HFC-23 projects, approving requests that
it had previously decided to review. It also said it agreed to
"place on hold and revise" the methodology of awarding credits
for cutting the industrial gas amid allegations of misuse.
It is "highly likely" that the approved credits will be
issued this week, according to Alessandro Vitelli, an analyst in
London at IDEAcarbon. UN offsets may be used by more than 11,000
facilities in the European Union emissions system, the world's
largest cap-and-trade program, as a cheaper way to comply with
their pollution quotas.
"It looks like most of the issuances will go ahead now,"
Vitelli said by phone today.

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: John Buckley, Rob Verdonck

To contact the reporter on this story:
Ewa Krukowska in Brussels at +32-474-620-243 or
Mathew Carr in London at +44-20-7073-3531 or

To contact the editor responsible for this story:
Stephen Voss at +44-20-7073-3520 or sev@bloomberg.net