Kyoto Protocol carbon offset prices rise

The cost of carbon offsets bound by environmental legislation Kyoto Protocol has increased, it has been revealed.

Earlier this week, Reuters reported that the Benchmark Certified Emissions Reduction prices increased by 3.8 per cent to a high of €13.04 (£10.65) a tonne.

This figure represents the highest cost since the beginning of July, indicating a rise in the popularity of carbon offset schemes.

Despite this good sign, four Chinese green projects which have approved by the Kyoto Protocol are set to face scrutiny by the United Nations.

Point Carbon News reported last week that the initiatives will be examined by environmental analysis experts after a number of green campaigners voiced their objections against them.

The price of Kyoto Protocol carbon offsets could rise further after Russia set a minimum cost of its CO2 offsets under the pact, the news provider reported.

A charge of €10 per tonne was imposed to protect green projects from "volatile market prices".

Posted by Joseph Hutton