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.