Wildlife Works Carbon LLC, a U.S.- based business selling carbon credits in the voluntary market generated by forest conservation, plans to expand fivefold the biodiversity-rich areas it protects in Kenya.
The European Union should ban the use of United Nations-approved carbon offsets from its emissions-trading system, or ETS, by 2020, an environmental group said in a submission to the European Commission.
Chevrolet is offering an incentive for the environmentally minded this year, promising to make up for the greenhouse gases from the cars it sells in 2011 by paying others to reduce carbon dioxide in the atmosphere.
South Korea asked its largest emitters to make cutbacks at home before giving them credit for overseas spending to reduce greenhouse gases, and it will begin charging for about 3 percent of pollution allowances in 2018.
The European Union’s regulator said consensus is growing among governments on some elements of a plan to limit the use in its market of certain credits issued by countries that fail to adopt new carbon goals.
United Nations carbon offsets for 2013 swung to a discount against those for 2012 for the first time in a month on speculation that European nations may delay a proposed ban on some imported industrial gas credits.
ArcelorMittal and Lafarge SA, the world’s biggest steel and cement makers respectively, used the most United Nations offsets to cover carbon-dioxide emissions last year, according to data on the European Commission website.