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ICE Proposes Carbon-Offset Contract Change to Match EU (Update1)
2010-12-10 02:35:26.667 GMT
(Updates with comment in third paragraph.)
By Mathew Carr
Dec. 10 (Bloomberg) -- ICE Futures Europe, the biggest
exchange for carbon trading, proposed that United Nations-
overseen credits used for settlement against its futures
contracts must comply with European emissions-trading rules.
The planned change in the treatment of UN Certified
Emission Reduction credits follows a Nov. 25 proposal by the
European Commission, the Brussels-based regulator, to ban some
industrial-gas offsets starting Jan. 1, 2013, according to a
statement published yesterday on the London-based exchange's
website.
"We're looking to give the market clarity in respect to
CERs," said David Peniket, president of ICE Futures Europe.
"We're bringing the ICE Certified Emission Reduction contracts
in line with the EU emissions trading system, which should
provide that clarity," he said in a phone interview.
UN CERs for March 2013 fell 2.7 percent to a record low
10.19 euros ($13.48) a metric ton on ICE yesterday.
For Related News and Information:
EU carbon-market stories: TNI EU ENVMARKET <GO>
Top energy news: ETOP <GO>
Top environmental stories: GREEN <GO>
--Editors: Alexander Kwiatkowski, John Viljoen
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:
Alexander Kwiatkowski at +65-6212-1329 or
akwiatkowsk2@bloomberg.net
