Hydro CO2 offsets ineligible for ECX trade
The exchange said after consulting its members it decided to continue excluding those carbon offsets, called Certified Emissions Reductions (CERs), generated by hydro dams larger than 20 megawatts in capacity, from being eligible to trade through its futures and spot contracts.
Under the Kyoto Protocol's Clean Development Mechanism, companies can invest in clean energy projects, like hydro dams, in emerging economies, and in return receive CERs which they can use under the European Union's Emissions Trading Scheme.
In an effort to clarify recommendations from the World Commission on Dams, EU nations last year voluntarily harmonized their rules on the eligibility of large hydro CERs, though this is still considered a grey area by market players.
According to UN data, there are 208 large hydro dams registered under the CDM, 158 of which are in China.
These projects have generated 10.6 million CERs to date and are expected to generate a total of 153 million by 2012.
The European Climate Exchange, owned by Climate Exchange plc, is the world's largest marketplace for greenhouse gas emissions credits.
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Hydro One bends to government demands, caps CEO pay at $1.5M
TORONTO - Hydro One has agreed to cap the annual compensation of its chief executive at $1.5 million, the provincial utility said Friday, acquiescing to the demands of the Progressive Conservative government.
The CEO's base salary will be set at $500,000 per year, while short-term and long-term incentives are limited to $1 million. Performance targets under the pay plan will include the CEO's contributions to reductions in transmission and distribution costs.
The framework represents a notable political victory for Premier Doug Ford, who campaigned on a promise to reduce the annual earnings of Hydro One's board members.
In February, the province issued a…
