S&P to launch carbon risk service

Credit ratings agency Standard & Poor's is to diversify into the carbon markets with the launch of its Carbon Offset Project Risk Assessments (Copra) service.

Copra, which S&P hopes to launch by December 2009 in co-operation with an as yet unnamed strategic partner, will offer independent assessment of delivery risk on primary Certified Emissions Reduction (CER) credits generated by Clean Development Mechanism (CDM) emissions reduction projects.

The assessment methodology will take into account va