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Offset Scorecard: Californian forests bring in bulk of this week’s issuances

March 23, 2017 by Billy Hamshaw

(CaliforniaCarbon.info, March 23, 2017) Just over 270,000 new offsets were approved by the Air Resources Board in this month’s second batch of issuances. The credits were distributed across 5 new reporting periods, three of which were claimed by Forestry projects in Mendocino County, CA, accounting for the bulk of this week’s overall haul.

In total, ARB have issued 2.2 million ARB Offset Credits (ARBOCs) this quarter, a downsize from 2016’s final quarter which yielded almost 6 million California Carbon Offsets (CCOs). With 2.4 million Registry Offset Credits (ROCs) issued so far this year, the backlog of credits awaiting final approval wavers at 25.9 million, almost half the total amount of CCOs generated.

New Forest’s Round Valley Indian Tribes IFM (ACR173), which received its first credits in 2015, had two new reporting periods approved. The project’s 2015 reporting period was accredited with 45k offsets whilst its second reporting period was issued just 8,356 credits, 842 days after the reporting period’s end date in November 2014. The project now holds the record for the longest ever lead time for a compliance project to be issued ARBOCs from the end of it’s reporting period.

Further forestry credits were handed to Brushy Mountain (CAR1095) which gained 101,148 CCOs for its third reporting period. The project has now generated a total of 1.6 million offsets, 1.3 million of which attributed by the first reporting period in 2014. 316k credits from the project remain in the buffer pool for insurance purposes.

The Van-Erk Dairy Digester Project (CAR1064) was the only livestock project to earn credits this week. The project earns NativeEnergy 4,863 CCO8s for its development in Ohio whilst the rotation of verifier qualifies the project’s previous 3,778 credits CCO3 status.

The largest single issuance of the week was claimed by EOS ACR 356 (ACR356). The project is EOS Climate’s 31st credited project, 25 of which have derived from ARB’s ODS compliance protocol.

The number of risk free CCOs remains unchanged at 5.9 million. Before ARBs next offset issuance will take place on April 13. Before then 897,547 CCO-0s are expected to become live as credits from 10 projects near the end of their invalidation timeframes.

Billy Hamshaw (billy@californiacarbon.info)

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