Dec. 13 (Bloomberg) -- Russia has issued 592,000 Emission Reduction Units, including 234,810 to Orbeo, the carbon-trading venture of Societe Generale SA and Rhodia SA, the Russian carbon registry said today.
ERUs are issued under the United Nations’ Joint Implementation program, which focuses on Eastern Europe and Russia and is the second-biggest greenhouse gas offset program overseen by the UN after the Clean Development Mechanism. Each ERU corresponds to one metric tons of carbon dioxide.
Units from JI projects can be used by factories and power stations to comply with caps set under the European Union’s emissions trading system.
--Editors: Alessandro Vitelli, Stephen Voss.
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