UN Board Rejected More Carbon-Reducing Projects Than It Approved in Bonn

The United Nations board that oversees the world’s second-biggest greenhouse gas market rejected more projects than it approved at a meeting in Bonn that ended July 30.

The Clean Development Mechanism Executive Board rejected 22 projects requesting registration and approved 21 applications, some conditionally, according to minutes from the meeting published last week. The projects were seeking UN credits that can be used for compliance in the European Union carbon market, the world’s largest.

“The amount of projects rejected at this executive board meeting is unprecedented,” said John Romankiewicz, an analyst in New York for Bloomberg New Energy Finance, the research company owned by Bloomberg LP.

To contact the reporter on this story: Mathew Carr in London at m.carr@bloomberg.net

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