Environmental Markets Correspondent/Communities Editor
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Aug 27, 2010

Analysis: EU’s carbon offset limits: a boon for brokers?

LONDON (Reuters) – New European Union proposals to limit the use of industrial gas carbon offsets in its emissions trading scheme from 2013 could be a boon for reeling carbon brokers as exchanges wait for clarity before they alter their offerings.

EU climate chief Connie Hedegaard said on Wednesday she is considering post-2012 limits for the use of offsets, called Certified Emissions Reductions (CERs), in the wake of concerns over the environmental integrity of a United Nations carbon finance scheme.

Aug 25, 2010

EU sees limit on industrial projects in CO2 scheme

LONDON, Aug 25 (Reuters) – The European Union’s top climate
official proposed on Wednesday new limits on the use of carbon
offsets from industrial gas projects in the EU’s emissions
trading scheme after 2012.

“The Clean Development Mechanism (CDM) has been successful
in some aspects but has also given rise to criticism, e.g. with
regard to environmental integrity,” said Connie Hedegaard,
Commissioner for Climate Action, in a statement.

Aug 23, 2010

W.Bank defends controversial HFC carbon-cut plants

LONDON, Aug 23 (Reuters) – The World Bank has defended its
investment in chemical plants accused by green groups of raising
production of greenhouse gas HFC-23 with the aim of incinerating
it to get extra carbon offsets worth millions of dollars.
Approved under the Kyoto Protocol’s $2.7 billion Clean
Development Mechanism (CDM) scheme, 19 plants mainly in China
and India are issued offsets by the UN for incinerating the
refrigerant waste gas called hydrofluorocarbon-23.

But environmental groups including Germany’s CDM Watch have
accused some of the plants, in which the World Bank is an
investor, of intentionally boosting refrigerant gas production
just collect more offsets by destroying it.

Aug 23, 2010

Divisive HFC carbon-cut plants gain W.Bank support

LONDON (Reuters) – The World Bank has voiced support for chemical plants that destroy a potent greenhouse gas called HFC-23, which green groups have accused of increasing production to get extra carbon offsets worth millions of dollars.

Approved under the Kyoto Protocol’s $2.7 billion Clean Development Mechanism (CDM) scheme, the 19 plants, mainly in China and India, receive offsets from the UN for incinerating a refrigerant waste gas called hydrofluorocarbon-23.

Aug 11, 2010

ICE cuts staff at Chicago Climate Exchange-sources

LONDON, Aug 11 (Reuters) – Market operator Intercontinental
Exchange Inc. (ICE.N: Quote, Profile, Research, Stock Buzz) is laying off staff at newly acquired U.S.
environmental bourse the Chicago Climate Exchange (CCX),
industry sources told Reuters, citing a lack of U.S. action on
climate change.

They said the first round of layoffs began on July 23 and,
although the total number of jobs to be cut was unknown, one
said around 25 employees, or roughly half CCX’s headcount at the
time of ICE’s acquisition, had already been or were being let
go.

Aug 9, 2010

London to stage two regular season games in 2011

LONDON (Reuters) – The NBA will play two regular season games in London next March, part of a push to bring professional basketball to the city before it hosts the 2012 Olympics, NBA commissioner David Stern said Monday.

The matches, to be held at London’s O2 Arena on March 4 and 5, will feature the Toronto Raptors and the New Jersey Nets and will represent one home date and one away date for both teams, Stern said by phone.

Jul 30, 2010

U.N. panel to probe further Kyoto CO2-cut projects

LONDON (Reuters) – A United Nations climate panel will ask a working group to investigate further claims that a Kyoto Protocol scheme may be incentivizing participants to emit more greenhouse gases, it said on Friday.

Several carbon-cutting projects approved under Kyoto’s $2.7 billion Clean Development Mechanism (CDM), which helps provide carbon finance to emerging economies, have been accused by green groups of intentionally increasing their emissions in order to destroy them and collect more carbon offsets.

Jul 29, 2010

U.N. ends Kyoto CO2 offset drought ahead of key meeting

LONDON (Reuters) – The United Nations’ climate secretariat on Thursday issued 228,400 Kyoto Protocol carbon offsets to three Asian clean energy projects, ending a two-week issuance drought but failing to reassure concerned investors.

The offsets, called Certified Emissions Reductions, were given to two Chinese wind farms and an Indian biomass facility, and represented the largest daily issuance since June 16.

Jul 14, 2010

Analysis: Layoffs, lost business for London’s carbon brokers

LONDON (Reuters) – London’s once high-flying carbon emissions permit brokers have been grounded by the recession and dwindling client volumes, with layoffs and business lost to exchanges clouding the horizon of a once sunny future.

The London-based desk at CantorCO2e, one of the many players in the now over-crowded European emissions trading space, was the latest casualty as the firm laid off its last three carbon brokers in the UK earlier this month, sources told Reuters.

Jul 9, 2010

EU sets 2013 industry CO2 cap at 1.927 bln tonnes

LONDON (Reuters) – Greenhouse gas emissions from heavy industry currently regulated under the European Union’s Emissions Trading Scheme will be capped at 1,926,876,368 tonnes of carbon dioxide in 2013, the EU Commission said on Friday.

In the scheme’s third phase, which runs from 2013-2020, the emissions cap will then be tightened at an annual rate of 1.74 percent of the average Phase 2 (2008-2012) cap of 2,032,998,912 tonnes, or by 35,374,181 tonnes per year, the Commission said on its website.

    • About Michael

      "Michael Szabo is an environmental markets correspondent based in London, UK. His focus is on carbon emissions trading, but also looks at renewable energy and climate change policy and science. He also manages the Global Carbon Forum."
      Joined Reuters:
      June 2005
      Languages:
      English, French
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