LCH.Clearnet will clear over-the-counter (OTC) contracts for United Nations backed carbon credits for delivery after 2012, Reuters reports. LCH will expand its services to contracts for carbon credits, certified emissions reductions (CERs), for delivery in December 2013, 2014 and 2015.
CERs are traded on exchanges or OTC under the UN’s Clean Development, which rewards companies that invest in clean energy projects in developing nations. Currently, ICE Futures Europe is the only exchange to offer a post-2012 contract, for delivery in March 2013.
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