Asia Pacific > Developer China Carbon seeks limited CDM exit

Developer China Carbon seeks limited CDM exit

Published 21:46 on March 5, 2015  /  Last updated at 15:36 on May 11, 2016  /  Asia Pacific, China, Kyoto Mechanisms

Dutch based project developer China Carbon NV aims to withdraw almost a third of its carbon-cutting schemes from the CDM to benefit from higher prices in Chinese markets.

Dutch based project developer China Carbon NV aims to withdraw almost a third of its carbon-cutting schemes from the CDM to benefit from higher prices in Chinese markets.

Twenty of its 64 projects would aim to generate CCERs under Chinese domestic carbon markets rather than the UN programme, China Carbon’s Jelena Stankovic told Bloomberg on the sidelines of the Argus European Emission Markets conference in Amsterdam on Thursday.

She said the projects could sell credits worth the equivalent of $1.28 each in China versus around $0.44 under CDM, Bloomberg reported.

Last month, CDM regulators agreed rules on how projects could de-register from the UN programme but huge uncertainties about which schemes could eventually qualify for Chinese markets has left many developers doubting whether it was worth doing.

Some Chinese developers are seeking higher CDM prices under programmes run by European governments.

Around a quarter of the offers made to Norway’s recent tender were from projects in China.