The premium of United Nations emission credits for 2010 over 2011 widened after the regulator said it wouldn’t decide on how to deal with projects seeking credits from destroying hydrofluorocarbons until November.
The Clean Development Mechanism executive board said in a report after its meeting ended on Sept. 17 that it would decide at its 58th meeting in November about the methodology of awarding credits for cutting the industrial gas HFC-23. The board hasn’t approved issuance of credits to HFC-destroying projects since June 2.
The spread, traded as a separate contract on the European Climate Exchange in London, jumped 15 percent to 70 euro cents (91 cents) a metric ton. It was at a record 73 cents on Sept. 7.