UN Carbon Offset Year-to-Date Supply Reaches Highest-Ever LevelAlessandro Vitelli
Supply of United Nations Certified Emission Reductions reached its highest-ever level in the eight months through August, according to UN data compiled by Bloomberg.
Issuance of so-called CERs through Aug. 30 grew 24 percent year-on-year to 223 million metric tons, according to data posted on the UN website. That’s the biggest year-to-date total since the UN issued the first offsets in 2005. The 2013 figure was also 5.2% higher than the eight-month total in 2011.
Supply of the offsets in the month of August was 2.7 percent lower than the month before, and 43 percent less than August last year, the UN data show.
Countries with emissions-reduction targets under the Kyoto Protocol, as well as companies covered by the European Union’s emissions-trading system, may use CERs to offset a portion of their emissions.
CERs for December delivery were unchanged at 60 euro cents ($0.79) a ton at 2 p.m. on London’s ICE Futures Europe exchange.