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UN CER Emission Credits Drop as Supplies Advance

Nov. 2 (Bloomberg) -- United Nations Certified Emission Reduction credits for December dropped to a four-day low as supplies will probably rise this month to a record.

CERs declined as much as 10 percent to 86 euro cents ($1.11) a metric ton and were at 93 cents at 10 a.m. in London on the ICE Futures Europe exchange in London.

The credits fell to an all-time low of 71 euro cents a ton on Oct. 25, as demand in Europe remained muted by low levels of economic production. Supplies of new CERs may rise to a record 57 million tons this month, according to data from the website of the UN Framework Convention on Climate Change in Bonn.

European Union permits for December declined 0.6 percent today to 8 euros a ton. Emission Reduction Units for the same month lost 10 percent to 61 euro cents a ton.

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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