Recycled CER scandal could push carbon trading over the counter
The latest scandal to hit the carbon markets, involving the trading of recycled Certified Emission Reduction units (CERs), could damage the credibility of carbon credits and push volumes off exchanges and onto the over-the-counter markets, say experts.
"This might start pushing trading of CERs onto the OTC market, because participants will start to sort their own documentation out to guarantee the CERs they are trading are not ones that have been used before," says Trevor Sikorski, carbon analyst at Barclays Capital.
A number of European climate exchanges, including France's BlueNext and Norweigan-based Nord Pool, have halted trading of CER
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