Mistaken issuance of HFC-23 credits: Human Error should be Corrected (Newsletter #11)

Despite the current ban on HFC credit issuance, more than 800,000 CERs were issued to an HFC-23 abatement project in India on 12 November. The EB suspended issuance of HFC-23 credits in August 2010 and made public assurances that the suspension would remain in place until the Board had discussed the Methodology Panel’s conclusions (see CDM Watch’s statement on this). It is possible that the issuance occurred due to an error. Regardless of the reasons behind the move, given the current suspension, the Board should recall the credits and launch a review process for the project in question.

In the meantime, CDM Watch calls on potential buyers of these credits to refrain from using them for compliance. The following buyers are listed for the project: (Reference Nr 115): Germany (KfW+Solvay Fluor), UK (ICECAP+Climate Change Capital+EDF Trading+Barclays Bank+Noble Carbon+Rabobank+Citigroup), Italy (ENEL), Netherlands (Nuon Energy+Goldman Sachs+CER Investments 1), France (BNP Paribas+IXIS) and Switzerland.


Related posts

Carbon Market Watch welcomes EU ban on “carbon neutrality” greenwashing

Companies selling in the European Union will no longer be able to claim that their products are carbon or climate neutral, the EU has provisionally agreed. This victory against greenwashing corresponds to longstanding demands from climate campaigners to eliminate the use of offsets and send a signal to the voluntary carbon market.

Integrity Council’s rulebook sets minimum threshold instead of high bar for carbon markets

The Integrity Council for the Voluntary Carbon Market’s latest guidelines provide a set of much-needed incremental improvements but fail to raise the quality of carbon credits sufficiently and leave too much wiggle room to truly tackle the climate crisis. The ICVCM has the opportunity to clear up the loopholes and ambiguities when it issues its first assessments of carbon market programmes.

Mistaken issuance of HFC-23 credits: Human Error should be Corrected (Newsletter #11)

Join our mailing list

Stay in touch and receive our monthly newsletter, campaign updates, event invites and more.