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ClimeCo Corporation strikes deal to sell California carbon offsets to PG&E

December 17, 2013 by CaliforniaCarbon.info

CaliforniaCarbon.info, 17 December 2013: Pennsylvania-based ClimeCo Corp. has signed an agreement with one of the largest compliance entities under the California cap-and-trade scheme to provide eligible offsets. The company will provide compliance offsets to Pacific Gas and Electric (PG&E) to help the latter meet its obligations under California’s cap-and-trade scheme.

According to a press release issued by the company, ClimeCo will offer PG&E with eligible offsets generated from projects based on the four early action offset protocols recognised by the Air Resources Board.

Till 26 December 2013, the ARB had issued over 4.2 million eligible offsets to various project developers. A total of 74 projects had been listed for desk review by the board, these include the projects which have already been issued offsets.

With the rapid rise in approval of early action offset projects and issuance of eligible offsets, the activity in the offsets market has also been increasing. Last month, Finite Carbon announced that it has contracted two companies to purchase over 240,000 offsets worth around $2 million.  The project developer plans to use this revenue to expand one of offset projects.

For more information about this article, mail to: contact@californiacarbon.info

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