Global Offset Experts: UN CO2 board is prepared for surge in credit requests says chairman.

Feb. 16, 2011 - PRLog -- Martin Hession, the newly appointed chairman of the CDM has told Global Offset Experts that the world’s second-biggest carbon market is ready to handle the expected increase in demand for requests for new credits this year.

Under the CDM, richer nations invest in emission-cutting projects in developing countries in exchange for tradable credits, and this market is expecting a 54% increase in requests for credits in 2011 according to a presentation published on the UN Framework Convention on Climate Change’s website.

“It’s going to be a mixture” of deploying staffers more effectively and also drawing on temporary workers who already helped provide record supply of credits last month, Hession told Global Offset Experts recently .


The CDM’s executive board have said that they will be considering a number of options to improve the issuance of credits to renewable-energy projects in countries which already pay power subsidies to wind farms and hydro plants, the chairman added. For example, China could provide new information at an unspecified time regarding the tariffs it pays in each region, possibly easing decisions about projects in that country.


Hession told Global Offset Experts that the board would aim to lower the amount of time it takes to receive approval for new systems that attract credits, known methodologies. A number of methodologies have been waiting for approval for over a year. The chairman, while declining to be more specific, indicated that the board was aiming to cut the approval time to less than a year.

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