The European Union may allow use of emission credits from forest protection to help fill any gap from a ban of some industrial-gas credits, a banker at BNP Paribas SA said.
The EU carbon market may have room in its third phase, which runs from 2013 to 2020, for credits under a program known as Reduced Emissions from Deforestation and Forest Degradation, or REDD, should the bloc restrict industrial-gas credits and adopt a tighter emission-reduction target for 2020, said Christian Del Valle, director of environmental markets and forestry at the Paris-based bank. The regions target is currently to cut emissions by 20 percent from 1990 levels.
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