UN Carbon Offsets Rise as Board Rejects Projects; Power Jumps
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United Nations carbon credits advanced to the highest level in two weeks as the regulator of the Clean Development Mechanism rejected a record number of projects. European Union allowances jumped as German power advanced at its fastest pace since May 24.
The executive board of the CDM turned down 22 projects requesting registration, the most during any single meeting, and approved 21 applications, some conditionally, according to the minutes published from last week’s meeting. The previous record was 12, according to Bloomberg New Energy Finance, the London- based research company owned by Bloomberg LP.