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Offset Scorecard: Volume ramps up in largest issuance of the year

March 8, 2017 by Billy Hamshaw

(CaliforniaCarbon.info, March 9, 2017) California Carbon Offsets (CCOs) issuances were back up this week as over 1 million new credits were awarded across 5 different projects. ARB’s latest issuance marks the largest of the year, breaking a relatively quiet period for offsets observed over the past few months.

Finite Carbon’s Passamaqouddy Tribe IFM (CAR1175) was the week’s biggest winner, adding half a million credits to the tribe’s previous credits awarded in November last year. The project, now totalling 1.1 million in size, with 182k held in the buffer pool, is the program’s 9th largest project by volume.

The project developer, Green Assets, also clocked forestry credits this week, receiving 139,000 ARBOCs for the Milbury Avoided Conversion Project (ACR266). The project will preserve over 8,515 acres of forestland in South Carolina and is Green Asset’s third compliance project credited this year.

VCS, the program’s third and least prominent registry, recorded its first ever compliance project to receive ARBOCs under its books. Corinth AMM Recovery (VCSOPR2) listed by Keyrock Energy in February 2015, took 268 days to receive full CCO issuance from ROCs – the second longest lead time witnessed.

The remainder of this week’s latest CCO batch were accrued by Perfect Score Technologies, signalling their first involvement within the cap-and-trade program. 42,233 offsets were approved for Prefect Cycle ODS-2 at the destruction facility in Bowling Green, Ohio.

In other news, only one CCO3 conversion was announced on Wednesday with 22,548 credits from DPC Domestic ODS Destruction Project #23 (CAR1234) transitioned to the lower risk and higher value CCO3.

ARB’s next offset announcements will take place on March 22.

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