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From: Reuters
Published May 15, 2008 09:29 AM
http://www.enn.com/top_stories/article/36348
China's deadliest earthquake in decades could cut by up to 5 percent the country's supply of carbon offsets under the Kyoto Protocol over the next 12 months, a market China dominates, Lehman analysts estimated on Thursday.
Rich countries can meet Kyoto greenhousegas limits by investing in emissions cuts in developing countries, earning carbon offsets in return.
China is expected to supply about half of the annual 540 million tonnes of offsets called CERs (certified emissions reductions) developing countries are projected to sell through 2012 and worth more than 25 billion euros ($38.75 billion) on a secondary market.
Some 15 million tonnes of China's annual output were within a 150 kilometer radius of Monday's quake centered in the southwest Sichuan province, Lehman said.
"We counted seven impacted companies among the world's top 20 project developers," said Laurent Segalen, Lehman head of emissions trading, who listed EcoSecurities, Deutsche Bank, Endesa and Mitsubishi Corp among developers with nearby projects.