Sceptre International Group Limited – News – U.K. Climate Envoy Martin Hession Vies to Head UN Carbon Market’s Board

Martin Hession, vice chairman of the United Nations Clean Development Mechanism, said he is a candidate to lead the executive board overseeing the world’s second-largest carbon market.

Board members will select the new CDM chairman at their next meeting, which begins Feb. 14 in Bonn, according to information on a UN website. Clifford Mahlung, the CDM’s current head, is due to step down at the end of his one-year term in February.

The vice chairman of the executive board often becomes the chairman, Hession said in a Dec. 7 interview. He is head of global carbon markets at the U.K.’s Department of Energy and Climate Change and represented the county at negotiations including last month’s climate summit in Cancun, Mexico.

The chairmanship of the CDM rotates between developed and emerging nations each year. Pedro Martins Barata, a Portuguese member of the executive board, said he is considering the position in a Dec. 20 interview. Hession said he took over from Barata as CDM vice chairman in the middle of last year/

Mahlung took the top job at the CDM last year after serving as vice chairman. The board oversees the supply of emissions credits in the UN market. The European Union allows some UN offsets to be traded in its own carbon trading system, the world’s largest.

source: www.bloomberg.com/news/

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Sceptre Group Limited opened its carbon trading desk in the third quarter of 2010.

At Sceptre, we have partnered with key companies within the carbon market to offer our clients the best quality credits available  in both the voluntray and compliant markets. Sceptre is both a  member of the Carbon Trade Exchange in London which has develped the worlds largest electronic spot trading platform for voluntary markets. The demand for these voluntary offsets, fuelled by corporate commitments to become “carbon neutral,” is growing rapidly. Contact us at www.sceptreinternational.com

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