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Weekly CER issuance ticks down by 15.8%

06 Feb 2012 14:52:31 | glm

The weekly issuance of certified emission reductions (CERs) declined by 15.8% in week 5, to 3.31m credits, according to the latest data from the UN Framework Convention on Climate Change.

It is the third successive week that CER issuance has fallen, although levels are 13% higher than the 2.93m CERs awarded in week 5 last year.

According to ICIS Heren's price assessment on Friday, over-the-counter spot CER contracts closed at €4.25/tonne of CO2 equivalent, putting the total value of weekly issuance at €14.1m.

A hydropower facility in southwest China was the project awarded the greatest number of CERs, 0.94m (or 28.4% of the weekly total). The project is expected to generate up to 1.78m credits a year. The UN lists Chinese company Sichuan Shengda Hydropower Development as the project developer and Carbon Asset Management Sweden as a project participant. CR

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