UN Carbon Credit Supply to Drop on Climate Vows: GDF Suez
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Emission-cutting projects overseen by the United Nations will probably reduce supply of credits into international markets as developing nations set up alternative programs at home, according to GDF Suez SA.
China’s preliminary plan for a national greenhouse-gas market published last week means projects will now be more inclined to use programs within their own country, said Philipp Hauser, vice president, carbon markets at GDF Suez Energy Latin America, a unit of the world’s biggest utility. China’s move may be followed by others and credits changing hands this week for 50 euro cents ($0.61) a metric ton may rise to a “few euros” by 2020, he said yesterday from Rio de Janeiro.