One example of a Joint Implementation project resulting in an emission reduction unit, was the production of biogases by landfill sites.
These gases consist of mainly methane which escapes to the atmosphere if it is not collected.
The main reason for dealing with methane is that it has a 100-year global warming potential multiplier of 25[2] compared to carbon dioxide (i.e. has 25 times the greenhouse potency).
In December 2012, ERU prices crashed to a low of 15 euro cents before recovering to 23c after news that EU’s Climate Change Committee was to vote on a ban of ERUs from countries that have not signed up to a second commitment period under the Kyoto Protocol.
[3] In January 2013, Bloomberg reported that emission reduction unit prices declined 89 percent in 2012.