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UN Carbon Credit Program Reports $82 Million Surplus to June

The trust for the United Nations Clean Development Mechanism, the operator of the world’s biggest greenhouse gas credit program, had an operating surplus of $82 million in the 18 months through June 30, as offset supply increased.

Fees and other income amounted to $141 million in the period, compared with expenses of $59.2 million, according to data in a statement on the website of the UN Framework Convention on Climate Change. The Bonn-based trust was holding $201 million, including funds carried over from the previous period, the UN said.

The CDM receives registration fees from carbon-cutting projects that apply for approval to issue credits, and issuance fees when projects request supply.

Certified Emission Reduction credits from the program closed unchanged yesterday at 58 euro cents ($0.78) a metric ton, according to data from ICE Futures Europe. They’ve plunged 97 percent since reaching a record high of 22.54 euros a ton in July 2008, as issuance advanced and demand from factories and power stations was crimped by the European Union’s economic recessions.

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

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net

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