December 15, 2016 by Billy Hamshaw
(CaliforniaCarbon.info, Dec 15, 2016) California’s carbon offsets were back up this week as over 3.3 million new offsets were approved by ARB in this year’s second largest issuance. A delivery of 4.9 million ARBOCs on August 9th the only issuance to pip this year’s penultimate ARB offset announcement.
2.9 million forestry offsets issued to the first reporting period of Finite Carbon’s Highlands IFM project (ACR 248) accounted for the significant bulk of CCOs generated this week. Covering an area of 97,208 acres across the Allegheny and North Cumberland Mountain range in Virginia, Highlands IFM has become the third highest yielding offset project to date. 568k of the total credits will be held in the buffer.
The Forestland Group were the landowners responsible for this week’s largest offset issuance. Working together with Finite Carbon, the two have currently yielded a cumulative 5.2 million ARBOCs whilst 6 further IFM project remain with the registries. Both entities have larger projects in the pipeline however; The Forestland Group awaiting issuances from Wyoming IFM (ACR249) while more credits stand to be gained from Finite Carbon’s Passamaquoddy Tribe IFM (ACR211) which received 3.8 million ROCs in August this year.
Buckeye Forest Project (CAR1013) was the only other forestry project to gain credits this week. 118k CCO8s were awarded to the second reporting period of the Californian project, overseen by The Conservation Fund. 224k ARBOCs have now been generated from this project, 43k of which buffered.
In ODS news, 111k credits were issued to A-Gas O’Hare (CAR1240) a record breaking 39 days from the reporting period end date of November 5. A-Gas Americas remain one of the most prolific ODS developers with 2.7 million credits to their name.
Tradewater and EOS Climate also claimed credits this week; 103k to Tradewater ODS 2 (ACR354) and 28k for EOS ACR 351 (ACR351).
New reporting periods for RES Ag – DM4-3 (CAR1132) and RES Ag – DM2-1 LLC (CAR1133) gained 9k and 6k credits respectively in North Carolina whilst 30k CCO8s where awarded to Origin Climate for their methane reduction project at Green Valley Dairy (CAR1106).
This week’s issuance also saw 47k of the 78k CCO8s now generated from Green Valley Dairy have their invalidation periods shortened to 3 years. An additional 512k credits reached the end of their invalidation period since ARBs last issuance in November. 372k more CCO-0s will become live this month as CCO3s from 11 more projects near the end of their invalidation period.
ARB’s next issuance will take place on Dec 27.
Billy Hamshaw (email@example.com)
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