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ECX rules out CERs based on big hydro projects
13 May 2010
The European Climate Exchange has ruled that Carbon Emission Reduction certificates generated by large hydroelectric projects will not be included in its basket of eligible CER types.
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This move maintains the status quo at the exchange —
CERs based on the projects have never been eligible for trading.
The decision follows feedback from various parties
following a circular on February 8, in which the exchange said it was
considering the impact of revising the existing ICE ECX CER Futures and Daily Futures
contracts specification to include CERs generated by the projects. It requested
feedback by February 24.
Hydroelectric projects can be controversial as some
say they destroy natural irrigation systems, damage ecosystems and can involve
displacement of people. Carbon Emission Reduction certificates are produced
following carbon abatement projects certified by the United Nations.