‘Homeless’ UN Emission Offsets May Flood New Zealand
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United Nations offsets from industrial-gas projects may flood the emissions-trading program in New Zealand and push the country’s carbon prices lower if the European Union prohibits their use, according to IDEACarbon.
The EU proposed last week a ban for use in its carbon program, the world’s largest, of credits linked to HFC-23 as well as nitrous oxide from adipic acid production. The European Commission, the EU regulator, said that projects related to those industrial gases may create “excessive” profits and undermine market integrity.