UN Carbon Offsets Drop Before European Vote on Restrictions
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United Nations carbon offsets dropped before a vote by European Union member states on a proposal to ban some imported industrial gas credits from the world’s biggest emissions market.
UN Certified Emission Reductions for delivery in December fell 0.5 percent to 11.08 euros ($14.90) a metric ton amid low volumes as of 8:53 a.m. on London’s ICE Futures Europe exchange. They are down 15 percent since Aug. 25, when the European Commission said it was preparing a draft to restrict the use of UN offsets linked to hydrofluorocarbon-23 and nitrous oxide from adipic acid production.