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US agricultural offsets come under scrutiny.

- Monday, September 14, 2009

The Chicago Climate Exchange (CCX) is reported to have employed a high profile Washington lobbying firm to help campaign for the recognition of agricultural offsets under the proposed US climate change legislation, as the validity and robustness of some agricultural offsets are coming under question.

In an article carried in the New York Times, it was explained that the CCX is becoming concerned that critics of agricultural offsets might succeed in having them removed from the Waxman-Markey legislation, which is due to be considered by the US Senate later this year. The CCX has been selling agricultural offsets into the US voluntary carbon market at quite low prices per tonne of carbon, but anticipates that agricultural offsets will be considerable more valuable once a mandatory carbon market is established.  
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