April 26, 2017 by Billy Hamshaw
(CaliforniaCarbon.info, April 26, 2017)
A meagre 116,000 new offsets came online this week in this year’s third lowest scoring batch of issuances. So far this year 3 million new offsets have come online, 1 million less than this time last year.
The credits were divided between 5 livestock reporting periods – typically the lower scoring of protocols approved by ARB. Camco’s Fair Oaks Dairy Farm LLC GHG-Designed Digester (CAR1120) second reporting period gained the most credits this week whilst subsequent reporting periods for Edaleen Cow Power (ACR239) and Vanderhyde Dairy (CAR1146), also developed by Camco, yielded a cumulative 17,917 offsets.
The recently acquired Origin Climate accounted for the remainder of this week’s credits as two new projects secured inaugural credits. Homestead Green Energy (ACR259) picked up 11,533 offsets in Indiana whilst Kettle Butte Digester (ACR349) claimed 19,666 in Idaho.
Origin Climate, a prominent developer of livestock credits, will now be operating under the newly expanded 3Degrees.
In more important news for the industry, the Natural Resources Committee this week sided with AB 378 as the pivotal cap-and-trade extension bill. Backed by Environmental Justice groups, the amended bill gave no mention of offsets in the market’s longer term outlook whilst Burke’s AB 151 will likely play a facilitative role in the program’s structure. The bill currently includes provisions on guiding protocol developments and incentivizing offsets that benefit disadvantaged communities within California whilst it’s cap-and-trade extension language was scraped.
To date, 22 offset projects located in disadvantaged communities across the state have been developed through ARB’s compliance protocols.
Billy Hamshaw (email@example.com)
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