Sceptre Group Limited – EU may propose CO2 credit curb plan at Cancun

The Sceptre Group blog reports on the latest industry news.  For more information, visit Sceptre Group’s website at www.sceptreinternational.com.

The European Commission has signaled its intentions to propose a plant to limit the use of some carbon credits from controversial industrial gas projects in its ETS at next week’s UN climate meeting in Cancun, Mexico.

Hydrofluorocarbon-23 (HFC-23) project developers have come under scrutiny by the UN as fears were raised that some developers were adjusting their plants to produce more HFC-23 and then destroying it to benefit from profitable carbon credits.

The EU Commission is discussing whether to propose curbs or ban such offsets outright from 2013 in its ETS. The Commission hopes to have its proposal ready and unveil it at the summit. “We are trying to have it ready for Cancun, and that might be in the first week or the second week of the meeting,” a commission spokeswoman told Reuters.

Source: ifandp.com

Sceptre Group Limited is a specialist investment firm focused in low carbon financial investments such as sustainable biofuel plantations, agricultural farmland and green technologies.  For more information on Biofuel Investments, please visit Sceptre Group’s website at www.sceptreinternational.com.

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