EU environment ministers abandoned plans on Friday (26 October) to limit excess supply of Kyoto-era carbon credits on the world’s markets after seven eastern European states backed Poland’s opposition to the measure.
The Environment Council had been intended to forge a common EU position on Assigned Amount Unit carbon credits (AAUs) – disparagingly dubbed ‘hot air’ credits – before the UN climate summit in Doha next month.
But “the fact that there hasn’t been agreement within the EU block will only make expectations for the Doha conference on the carry-over of AAUs very low,” said Jeff Swartz, the policy director for the International Emissions Trading Association. Read more...
