UN Adopts N₂O Methodology for Carbon Credits in Nitric Acid Production
The UN Supervisory Body has adopted a new methodology to reduce nitrous oxide emissions from nitric acid production, impacting 400 to 600 plants globally. This initiative expands the Paris Agreement's carbon credit framework, facilitating measurable reductions in industrial emissions and offering new avenues for climate finance.
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The UN's Article 6.4 Supervisory Body has approved a methodology aimed at reducing nitrous oxide emissions from nitric acid plants, enabling these facilities to generate carbon credits under the Paris Agreement. This decision is significant as it targets a major source of N₂O emissions, with around 70 million tonnes of nitric acid produced annually across 400 to 600 plants, particularly in developing nations where emission reduction technologies are scarce.
The methodology provides a structured approach for project developers and governments to convert emission reductions into verifiable credits. Additionally, it underscores a shift towards addressing industrial emissions within the carbon market, potentially enhancing investment in abatement technologies. The long-term impact includes strengthening the credibility of carbon credits and aligning them with national climate objectives.
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