Tuesday, June 26, 2007

U.N. awards most ever CO2 credits to Indian projects

The United Nations awarded more than 5.4 million carbon credits to an Indian company on Monday, including four million carbon credits in the single largest issuance of emissions permits to a Kyoto Protocol project.

The four million credit issuance accounts for 6.5 percent of the total 62 million CERs allocated by the UN so far, with 42 percent of all issued credits going to projects in India.

CERs, each equivalent to the reduction of one tonne of CO2, trading on a secondary market are currently valued at around 14.50 euros.


From Reuters