Supply of United Nations carbon offsets, known as Certified Emission Reductions or CERs, in November is headed for the most since January, UN data show.
The executive board of the UN’s Clean Development Mechanism, the body responsible for regulating CERs, is scheduled to deliver a total of 28 million metric tons of credits from Nov. 1 through Nov. 15, compared with 27 million in October, according to UN data compiled by Bloomberg. That’s the biggest monthly volume since January and the seventh-largest on record, the data show. The schedule for the remainder of November is yet to be completed.
Prices for UN offsets for December fell to a record 1.43 euros ($1.85) a ton on Sept. 18 after total supply of CERs reached 1 billion tons a week earlier. They rose 2.6 percent to 1.58 euros at 3:07 p.m. London time.
CERs are generated by clean-technology projects in developing countries that reduce pollution compared with a business-as-usual scenario. Factories and power stations participating in carbon markets in the European Union, Australia and New Zealand may use CERs to meet part of their cap on greenhouse-gas emissions.
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