Friday, 03 June 2011 15:56
A United Nations board that oversees the world’s biggest greenhouse-gas-offset market made progress this week on clarifying eligibility rules for projects applying for carbon credits, said chairman Martin Hession. The board agreed to “default numbers” that will help determine how many credits renewable and energy-efficiency projects in least-developed nations can win in the Clean Development Mechanism program, Hession said today in an interview at Carbon Expo in Barcelona. This will broaden the number of countries applying for credits, he said.
The default numbers help projects when it’s unclear whether the proposal would have gone ahead even without the revenue from the credits, he said. Renewable-energy projects can win credits if they demonstrate they need assistance to be viable, according to the so-called additionality rule of the CDM.
The board also revised a list of similar numbers that help assess additionality in three Chinese provinces, Hession said. China has won more credits than any other nation.
The board uses a list of highest tariffs in a given region or province when determining whether projects should be approved for credits.
The previous high-tariff list for China didn’t work because it included prices from years ago designed to encourage renewable projects, Susanne Haefeli-Hestvik, technical director at Tricorona, a Stockholm-based emission-reduction developer owned by Barclays Plc (BARC) of London, said in February.
The lists didn’t distinguish between richer and poorer regions in the same province, she said. Hydro projects in poorer regions may be missing out on support from emission credits because there are higher tariffs in more developed parts of the same province, she said.
Source- Bloomberg
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