The United Nations’ (UN’s) climate secretariat on Thursday issued 228, 400 Kyoto Protocol carbon offsets to three Asian clean energy projects, ending a two-week issuance drought but failing to reassure concerned investors.
The offsets, called Certified Emissions Reductions, were given to two Chinese wind farms and an Indian biomass facility, and represented the largest daily issuance since June 16.
Under Kyoto’s Clean Development Mechanism scheme, investors can fund cuts in greenhouse gas emissions in emerging economies, and in return receive CERs from the UN, which can be used towards emissions targets or sold for profit.
The drop in CER issuances is one item that is likely to be discussed at a meeting of the CDM’s executive board this week.
“It’s taking longer to get CERs, so that delays project developer revenues and makes them harder to predict,” said Niels von Zweigbergk, CEO of Tricorona, a Swedish-based developer that was recently bought by Britain’s Barclays bank.