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UN Carbon Plan Won’t Reverse 99% Price Decline, New Energy Says

Support for voluntary retirement of United Nations carbon credits at last month’s global climate talks is unlikely to dent a surplus that drove prices to record lows, according to Bloomberg New Energy Finance.

Envoys at the UN Conference of the Parties in Warsaw encouraged canceling Certified Emission Reductions, or CERs, while stopped short of simplifying the retirement process. About 4 million CERs have been voluntarily canceled by nations and companies, UN data show, compared with more than 1.4 billion created since 2005, according to New Energy Finance.