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 Corporation has signed an agreement with California’s leading power utility Pacific Gas and Electric (PG&E) to sell offset credits to the latter for compliance under the state’s cap-and-trade scheme, the advisory and trading firm said in a statement released yesterday. ClimeCo Corporation plans to source these offset credits from projects based on the four early action protocols approved by the Air Resources Board under the cap-and-trade scheme.

Till date, the board has issued over 4.6 million eligible offsets to various early action and compliance projects. The board has also approved 74 early action projects for desk review, this includes the projects which have been issued the offsets.

With the rapid increase in the number of projects approved for desk review and offsets issued to the projects, developers have started showing increased interest in the offsets market. Last month, Finite Carbon announced that it would sell over 240,000 offsets worth around $2 million to two companies. These offsets have been generated by a forestry projects approved under the early action program.

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