ARB issues 366k offsets at the start of 2019

January 10, 2019 by Lonava Tahreen

(CaliforniaCarbon.info, Jan 10, 2019) Over 366K credits were issued to seven projects this week out of which three were ODS projects developed by Tradewater, while the rest were distributed across forestry and livestock projects.

Around 305K CCOs were assigned across Tradewater’s portfolio of ODS 15 (52k), 16 (148k) and 17 (105k) projects (ACR 431, ACR433, ACR435).  This update takes Tradewater’s total CCO issuance count across the 2 million mark, which is spread across 17 projects. Only 1 Tradewater project is now awaiting CCO issuance (Tradewater ODS 18 – ACR436) as this project recently saw 96k ROCs issued during the second half of December 2018.

Two second reporting periods of Nature Conservancy’s Virginia based forestry projects also managed to gain credits in this years first issuance event. Rich Mountain (CAR1159) and Clifton Farm (CAR1160) gained 24k and 15k CCOs, while a combined 7k CCOs across these projects were assigned to the buffer pool.

The remaining credits issued for the week went to the fifth reporting period of Stotz Generation (CAR1078) as it received almost 19k credits, and Pagel’s Ponderosa Dairy Methane Reduction Project (CAR1049) which garnered 2.6k credits for its fourth reporting period. CAR1078 managed by Solar & Renewables Management also saw around 30k CCO-8s convert to CCO-3s from its previous reporting periods. Likewise, the third reporting period of CAR1049 saw around 23k CCO-8s convert to CCO-3s, to make up a total of 53k CCO-3 conversions in this issuance period.

No new credits emerged from Quebec recently meaning its total remains at 678k. During CP2, a total of 62.7 million offsets were retired by Californian entities while around 6 million offsets were surrendered by Quebec entities for the 2015-2017 compliance period.

The ROC backlog remains steady at around 23 million as a regular supply of ROC issuances have generally matched CCO issuances over the past few months.

ARB’s next offset issuance update will take place on the 24th of January.

Lonava Tahreen (lonava.tahreen@californiacarbon.info)

Rohan Nongpiur (rohan.nongpiur@californiacarbon.info)

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