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EU Proposal to Ban Some CO2 Offsets Raises Concern, Traders Say
2010-11-25 11:59:09.875 GMT
By Ewa Krukowska
Nov. 25 (Bloomberg) -- The European Union's proposal to ban
some carbon emission offsets linked to certain industrial gases
raises a concern that it may impact some credits for reductions
done before the ban begins, a lobby group representing the
world's biggest carbon traders said.
The European Commission proposed today banning offsets
related to hydrofluorocarbon-23 and nitrous oxide from adipic
acid production from being eligible for use in the EU's own
emissions-trading system as of January 2013. The restrictions
will apply to credits under the United Nations Joint
Implementation program and the Clean Development Mechanism.
Offsets generated under the CDM are known as Certified Emission
Reductions, or CERs.
"There is no justification for applying restrictions to
CERs relating to emissions that occur before 2013, even if the
CERs for these emissions reductions are formally issued in 2013
or later as a result of delays in the UNFCCC machinery,"
International Emissions Trading Association, the Geneva-based
lobby group, said in an e-mailed statement. The UNFCCC is the
regulator of the UN's carbon market.
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To contact the reporter on this story:
Ewa Krukowska in Warsaw at +32-2-237-4331 or
ekrukowska@bloomberg.net
To contact the editor responsible for this story:
Stephen Voss at +44-20-7073-3520 or
sev@bloomberg.net
