yest/UN Offsets Erase Gains as Record January Supply Is

down to 11.31 today


UN Offsets Erase Gains as Record January Supply Is Forecast
2010-12-22 17:46:13.802 GMT

By Mathew Carr
Dec. 22 (Bloomberg) -- United Nations carbon credits erased
gains as IDEAcarbon, the London-based rater of emission-
reduction projects, said there would be a record supply of new
offsets next month.
UN Certified Emission Reductions for December 2011
increased 0.4 percent to 11.41 euros ($14.93) a metric ton on
ICE Futures Europe in London as of 5:38 p.m. They were earlier
today up as much as 1.5 percent. European Union allowances for
the same period rose 1 percent to close at 14.32 euros, its
highest since Dec. 16.
Issuances next month of CERs will reach at least 34.7
million tons, Alessandro Vitelli, a London-based analyst at
IDEAcarbon, said today by e-mail. That's 40 percent more than
the record 24.8 million tons issued last month under the

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--Editors: Rob Verdonck, Randall Hackley

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