China Denies Breach of Carbon Rules in Confidential Report
This article is for subscribers only.
Chinese environment officials rejected claims in a document indicating some chemical factories may have adjusted output levels to maximize United Nations carbon credits, defying market rules.
Among 11 chemical plants in China that receive emission credits for cutting one of the most-potent greenhouse gases, nine curbed production after reaching an allowable cap, according to a Nov. 16 report attributed to the United Nations and marked “confidential.” That may suggest they were maximizing credits rather than filling demand for product, the document said. UN officials declined this week to authenticate the document, obtained by Bloomberg News.