Under current rules, the 19 registered HFC-23 destruction projects are expected to generate about 478 million CERs by 2012 and more than one billion CERs by 2020. In 2009 European installations surrendered 46,364,460 HFC-23 CERs, worth an estimated €552 million2. However these CERs, which constitute the majority of offsets used by European companies (59% in 2009) to address their emissions reductions so far, do not contribute to sustainable development, and are so fundamentally flawed that they risk undermining the environmental integrity of the ETS as well as the CDM.
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