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Surge in CO2 Credits Limits Price

Record number of carbon credits generated in 2011.

By Ewa Krukowska and Mathew Carr, Bloomberg | Updated on January 02, 2012

More than twice as many new carbon credits were supplied to the world’s second-biggest emissions market this year, damping prospects for a recovery from record-low prices in 2012.

The UN Clean Development Mechanism will generate a record of about 320 million Certified Emission Reduction credits in 2011, up from 132 million last year, according to data compiled by Bloomberg. While a 62 percent drop in UN prices may discourage new supply, Bloomberg New Energy Finance cut its 2012 price forecast this month as it estimated the glut of so-called CERs will be bigger than previously estimated.

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