Fwd: + EU to Help China Set Up Carbon Trading, Delbeke Says (Update1)

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EU to Help China Set Up Carbon Trading, Delbeke Says (Update1)
2010-12-06 17:30:37.562 GMT

(Adds Delbeke's comment on CDM in third paragraph.)

By Mathew Carr
Dec. 6 (Bloomberg) -- The European Union will set up a
project that may help China begin trading emissions in about
eight cities, the head of the EU climate unit said today.
"They are very operational in their demands," Jos Delbeke
of the European Commission's climate unit said in an interview
today at global climate talks in Cancun, Mexico. Consultations
with China "are going much better than anticipated," he said.
"We are going to establish a work program."
The United Nation's Clean Development Mechanism, the
world's second-biggest emissions market, is not in danger of
extinction, Delbeke said.
"It goes without saying that the CDM continues," he said.
The EU's 1.6 billion-ton demand for UN credits "should reassure
the market."

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