Microsoft has been a key investor in a United Nations program which allows developed countries to invest in green projects overseas, trading domestic pollution. The program called UN Certified Emission Reduction Credits is expected to grow to 50 million carbon credits by 2020.
One of the advisers on the project, Daniel Rossetto, the Managing Director of Climate Mundial reports that the growth in demand for the carbon credits are likely to increase. He observed that businesses are now upbeat over but buying credits as tracked on the ICE Futures Europe Exchange, at London in 2014.
Previously the demand for UN Certified Emission Reduction credits had slumped to as low as 98%, since 2008. This was due to failure of many nations to adopt such trading option. As per latest updates, the largest carbon market, which is Europe, is not expected to use CERs after 2020. The likelihood of their use, will be possible only if the current targets for global emissions are further pressurized.
As commercial demand for sustainable development as well as climate protection becomes the mantra, the demand for CERs has increased, commented Rossetto in an interview.