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EU Commission amends CO2 rules to stop CER reuse

Thu, 18th Mar 2010 16:33

LONDON, March 18 (Reuters) - The European Commission has agreed to amend i
ts carbon registry rules to prevent recycled Kyoto carbon offsets from appearing on the EU's Emissions Trading Scheme, it said on Thursday.

The Commission said in a statement that it will suspend the process for surrendering certified emissions reductions and emissions reduction units from March 19 until the new rules are applied after August, except for the period April 19 to May 1.

'This allows for an appropriate time period for the surrender of allowances or credits by operators for compliance with 2009 emissions by the 30 April 2010 deadline, while protecting the integrity of the European carbon markets,' the commission said.

The move follows concerns after reused CERs appeared on the French spot exchange BlueNext this week.

(Reporting by Nina Chestney; Editing by James Jukwey) Keywords: EU EMISSIONS/TRADING

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