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Russia a Big CO2 Offsetter

Russia may overtake Brazil to become the world's third-biggest supplier of credits from projects that reduce greenhouse-gas emissions, with the new supply of offsets expected to weigh on prices, CDC Climat Research said.

The country may issue 142 million credits for 2008-12 under the UN's Kyoto Protocol, according to CDC, a climate-protection unit of Caisse des Depots et Consignations, the French state-owned bank.

"This increase in ERU supply will likely put additional pressure on the price for Kyoto credits, as the largest carbon market, the EU Emissions Trading System, is already suffering from oversupply of allowances," CDC said on its web site.

(Bloomberg)

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