SGS UK suspension prompts CantorCO2e auction
The United Nations’ recent suspension of the world’s largest carbon project verifier has prompted an auction of carbon credits by UK carbon trading firm CantorCO2e.
CantorCO2e sold 333,067 certified emission reductions (CER) into the market, which were generated by two Chile-based biomass projects owned by Latin American forestry company Arauco, and sold for €12.02 each.
A shortage of supply of issued CERs in the carbon market has been caused by capacity issues in the Clean Development Mechanism (CDM) validation process, recently exacerbated by the suspension of project verifier SGS UK, according to CantorCO2e.
SGS UK has been accused of failing to audit
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