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  • Published: May 21st, 2010
  • Category: Europe
  • Comments: 7

Emitter Use of UN Credits in EU Carbon Trade Was Steady in 2009


| Sourced From Businessweek |

May 15 (Bloomberg) — Factories and power stations in the European Union used about 82 million metric tons of their United Nations offset credits last year, European Commission regulator Peter Zapfel said, about the same level as in 2008.

Total emissions in the region fell about 11 percent from 2008, similar to a preliminary figure released by the Commission earlier this month, Zapfel, who coordinates emissions trading in the worlds biggest greenhouse-gas market, said by phone.

Credit use was at the bottom of an 80 million-ton to 100 million-ton range estimated by Orbeo, the emissions-trading venture of Societe Generale SA and Rhodia SA. Orbeo predicted on May 11 that credit use would be at the high end of that range.

Last year, carbon-dioxide emissions fell the most since the European Union started its cap-and-trade program as the recession reduced industrial production and utilities switched to cleaner-burning fuels. The program began in 2005.

The usage of UN credits in 2008 was 81.9 million tons, according to data from the commission compiled by Bloomberg.

–Editors: Keith Campbell, Christiane Lenzner.

To contact the reporter on this story: Mathew Carr in London at m.carr@bloomberg.net

To contact the editor responsible for this story: Mike Harrison at mharrison5@bloomberg.net

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