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.