China Carbon Seeks to Pull 31% of Its Projects Out of UN System
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China Carbon NV wants to pull almost a third of its emission-reduction projects from a United Nations program and switch them to more lucrative markets in the Asian nation.
Twenty of China Carbon’s 64 projects would produce China Certified Emission Reductions, or CCERs, instead of credits under the UN’s Clean Development Mechanism, according to Jelena Stankovic, senior project manager at the company. The UN credits are used by developed nations to offset domestic emissions by investing in carbon-cutting projects elsewhere.