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UN Issues 2 Million Carbon Offsets to China's HFC-23 Project
2010-12-15 11:34:19.65 GMT
By Ewa Krukowska
Dec. 15 (Bloomberg) -- Regulators of the United Nations
carbon market issued about 2 million Certified Emission
Reductions to a hydrofluorocarbon-23 reduction project of
Zhejiang Juhua Co. in China, according to a UN website.
The credits can be used by more than 11,000 factories and
power stations in Europe to comply with emissions limits and by
other nations to meet greenhouse-gas targets under the Kyoto
Protocol. HFC-23 is a waste gas with almost 12,000 times more
global warming potential than carbon dioxide.
The EU proposed a ban last month on credits linked to HFC-
23 and nitrous oxide from adipic acid production starting in
2013. The European Commission, the EU regulator, said projects
related to those industrial gases may create "excessive"
profits for investors and undermine the market's integrity.
Representatives of EU governments are due to hold a first
discussion on the proposal at a meeting today.
For Related News and Information:
Today's top energy news: ETOP <GO>
Emission market news: NI ENVMARKET <GO>
Today's top energy stories: ETOP <GO>
European power-markets home page: EPWR <GO>
--Editors: John Buckley, Raj Rajendran
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
