UPDATE 1-Natsource cuts staff on climate pact delay

Mon Jan 17, 2011 3:01pm GMT
 

* Natsource cut staff in 2010 on uncertain climate policy

* Natsource Japan decides to close business

By Nina Chestney and Risa Maeda

LONDON/TOKYO, Jan 17 (Reuters) - Carbon asset manager Natsource reduced its global headcount in 2010 due to uncertain international climate policy and the lack of U.S. climate change legislation, a company spokesman said on Monday.

"I can confirm that the company reduced its headcount in 2010," Natsource spokesman Richard Rosenzweig told Reuters, declining to comment on specific numbers.

"The uncertainty in international climate change policy and the failure to enact a program in the U.S. made it very difficult to develop new business opportunities in the carbon market," he added.

Natsource Japan Co, a Tokyo-based carbon broking venture since 2001 which is partly owned by Natsource, plans to close due to the lack of fee-generating opportunities in Japan, company sources told Reuters earlier.

Under the U.N.'s Clean Development Mechanism, firms such as Natsource invest in clean energy projects in developing countries and receive carbon credits, which can be used towards emission reduction goals or sold for profit.   Continued...

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