03.12.2014 - UN Carbon Price Heads Toward Zero as Eligibility Deadline Nears
United Nations carbon credits for December fell to a record as holders of the offsets seek to sell them before they expire in March. Front-year Certified Emission Reductions dropped 20 percent to 0.04 euros ($0.05) a metric ton today on London’s ICE Futures Europe, the lowest since the contract began trading in 2008. Prices for the credits that rich nations from Germany to Australia use to offset domestic emissions by investing in green projects elsewhere have lost more than 99 percent from a 2008 peak as slowing global growth cut demand. CERs for emission cuts before Dec. 31, 2012, can’t be used after March 31 in the EU’s emissions trading system nor by nations with climate targets under the 1997 Kyoto Protocol...............................................Full Article: Source
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