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The Low Carbon Economy Ltd

02 Aug 2010 05:08:07

CDM board to review offsetting project safeguards

CDM board to review offsetting project safeguards
The Clean Development Mechanism (CDM) is to carry out a review as to whether the current system in place for projects that offset HFC-23 gas is sufficient.

Concerns were raised earlier in the year that loopholes were being used to abuse the system after a report by CDM Watch suggested that some companies may be artificially inflating their emissions to allow them to take advantage of carbon offsetting.

A report from the latest meeting of the CDM executive board shows that no more companies will be allowed to qualify for projects that involve the destruction of HFC-23 and that the amount of credits a company can earn for such offsetting projects will be tied to historic production levels.

Clifford Mahlung, chair of the executive board, said: "It's clear that these projects are preventing a great deal of a very potent greenhouse gas from entering the atmosphere."

He added: "However, it's prudent that the board look at whether the safeguards built into the methodology are still sufficient to prevent perverse incentive." ADNFCR-1235-ID-800010132-ADNFCR

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