CSA Z462 Arc Flash Training – Electrical Safety Compliance Course
Our customized live online or in‑person group training can be delivered to your staff at your location.
- Live Online
- 6 hours Instructor-led
- Group Training Available
The EU's flagship scheme to combat climate change allows heavy industry a fixed quota of permits to emit the main man made greenhouse gas carbon dioxide.
Companies must either keep to that limit, buy permits from others below their EU cap, or fund emissions cuts in developing countries, earning offsets called CERs under a U.N.-run Kyoto Protocol scheme called the Clean Development Mechanism.
Until now there was no software link between the EU and U.N. schemes allowing CER delivery, a link originally expected nearly 18 months ago. The delay has made EU carbon market participants nervous as the first significant CER contract settlement date nears on December 1.
The connection should happen shortly, said European Commission environment spokeswoman Barbara Helfferich, who declined to give a more precise indication of the date.
"We are negotiating with the U.N. (climate agency) to decide on the date," she said. "We had a successful test run. Now we have to see that the U.N. is also ready, so setting the date is under negotiation.... It should be shortly."
"I welcome the successful outcome of the testing phase," said EU Environment Commissioner Stavros Dimas.
"This now paves the way for the transfer of credits from the Clean Development Mechanism into the EU registry system."
If the link is not up and running by December 1 then most CER contracts have a clause allowing settlement to roll over until the patch is complete. However, confidence would be harmed at a time many countries are considering introducing their own cap and trade schemes.
"What you really can't put a number on is the impact on sentiment," said a carbon trader who declined to be named.
Related News
Balancing Act: Germany's Power Sector Navigates Energy Transition
Explainer: Why nuclear-powered France faces power outage risks
More red ink at Manitoba Hydro as need for new power generation looms
Ireland: We are the global leaders in taking renewables onto the grid
More than Two-thirds of Americans Indicate Willingness to Give or Donate Part of their Income in Support of the Fight Against Climate Change
Mike Sangster to Headline Invest in African Energy Forum
Sign Up for Electricity Forum’s Newsletter
Stay informed with our FREE Newsletter — get the latest news, breakthrough technologies, and expert insights, delivered straight to your inbox.
Electricity Today T&D Magazine Subscribe for FREE
- Timely insights from industry experts
- Practical solutions T&D engineers
- Free access to every issue