Controversial HFC23 and N2O projects still dominate carbon credit issuance, with some 830 million Certified Emissions Reductions (CERs) issued to these projects as at January 31 2017, more than half the total CERs issued under the scheme since it began in 2007, according to the latest inventory of CERs issued by the UN’s Clean Development Mechanism (CDM).
Chinese HFC23 accounts for 76% of the total world’s HFC23 reduction credits, at around 447 million tonnes, with HFC23 now accounting for 43% of China’s total CER haul.
Looking at the top 75% of CER issuances globally, (produced by 1,918 of the 7,758 registered projects in total), renewable energy projects such as wind, hydro, geothermal accounted for 208 million CERs in total, while industrial gas and heat recovery projects, together with gas-fired power generation projects, accounted for 244 million CERs combined.
Globally, China still dominates CER issuance, with 58% of the world’s total. India has produced 13%, Korea 8% and Brazil 7%.