June 28, 2018 by Emily Jackson
In the final issuance of Q2 2018, the ARB has issued just over 600k CCOs. The issuances were spread fairly equally between different project types, with 31% coming from Mine Methane, 25% from Forestry, 23% from Livestock and 21% from ODS projects.
Though Mine Methane was the largest contributing project type to the week’s issuances, credits were issued only to Vessels Coal Gas’ Elk Creek Permit Area Abandoned Mine Project (ACR367), which received just under 190k CCOs in its second reporting period. This is a relatively large issuance compared to other Mine Methane Projects – of which the median issuance to a single reporting period stands at 71k.
The Conservation Fund’s Garcia River Forest – ARB (CAR1098) was the only Forestry project to receive CCOs this week, totalling just under 157k for its second reporting period. This project is located in California and adds to the pool of in-state forestry offset credits, which currently stands at 19.7million.
5 Livestock projects received credits this week. The largest of these were Camco’s Double A Dairy (ACR233) and TMF Biofuels Dairy Digester (CAR1169) which both received 55k CCOs. 3 Degrees’ Brook View Dairy Methane Reduction Project (CAR1036) received 16.8k CCOs, Camco’s Vanderhyde Dairy (CAR1146) received 8.7k CCOs and finally Pacific Rim Energy’s Maas Energy Works (CAR1108) received 5k CCOs.
The remaining credits were issued to Tradewater ODS 12 (ACR419) which was granted 132k CCOs, the second largest issuance to a single project this week after Vessels Coal Gas mine methane project.
Just over 533k CCO-8s underwent conversion to lower risk CCO-3s this week, from 8 projects. All aforementioned Mine Methane and Livestock projects received CCO-3s for there previous reporting period, as well as A-GAS RemTec 2014-3 (CAR1093) which saw just under 150k of CCO-3 conversions.
The issuance backlog currently stands at just under 32million. The backlog has remained relatively flat for the last few months, having significantly peaked around December 2017.
ARB’s next issuance will take place on 11th July.