Bloomberg News

UN ERU CO2 Credits Have Busiest Day Ever After EU Proposes Ban

October 19, 2012

Trading volume in United Nation Emission Reduction Units rose to a record on London’s ICE Futures Europe exchange after the European Union proposed a ban on the use of the offsets from April.

Almost 5.8 million metric tons of offsets had changed hands on the bourse as of 2:45 p.m., more than double the previous day’s volume, according to ICE Futures data.

Earlier, the EU proposed that ERUs from countries such as Russia and Ukraine should not be eligible in the bloc’s cap-and- trade system after April, raising the possibility that countries would try to sell more offsets before the ban comes into effect.

To contact the reporter on this story: Alessandro Vitelli in London at avitelli1@bloomberg.net

To contact the editor responsible for this story: Rob Verdonck at rverdonck@bloomberg.net


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