April 18, 2016 by Rohan Nongpiur
CaliforniaCarbon.info, April 18, 2016: April’s first issuance announcement saw ARB issue a total 317,803 California carbon offsets (CCOs), out of which 244,146 CCOs were awarded to early action projects, and 73,657 CCOs assigned to livestock projects under ARB compliance. A further 224,588 CCO-8s also saw CCO-3 conversions.
The largest issuance of the day went to Vessel’s Coal Gas’ Elk Creek Coal Mine Methane Destruction & Utilization Project (CAR891). CAR891 is which happens to be the first Colorado based project to gain CCOs under the California offset program, managed 199,146 CCOs for a reporting period spanning March 2014 to September 2014. A further 191,760 early action offset credits (EAOCs) from 4 reporting periods still await CCO issuances. A total of 2.8 million CCOs from 8 projects and 23 reporting periods have now been generated from mine methane projects.
The Conservation Fund’s Big River/ Salmon Creek Forests (CAR408) was the other early action project to gain credits in the recent issuance, as it was awarded 45,000 CCOs (8,658 buffered). The Conservation Fund now have a total of 1,614,658 CCOs attributed to its name. Out of this total, 1,284,422 CCOs have been credited from 3 early action projects, while 330,236 CCOs came from a single ARB compliance project.
A combined 73,657 CCOs were also recently awarded across 3 livestock projects under ARB compliance. All three projects saw the credits awarded to their second reporting periods. ClimeCo’s T&M Herrema Dairy (CAR1056) and T&M Herrema Dairy (CAR1058) each gained 12,450 and 19,635 CCOs respectively. Meanwhile, Origin Climate’s New Energy One Livestock Project (CAR1022) gained 41,752 CCOs.
CAR1058, CAR1056 and CAR1022 also saw 28626, 15242 and 30,650 CCO-3 conversions respectively, as a result of verifier rotations. Under early action, Herrema Dairy (CAR487) saw 19,840 CCO-3 conversions across two reporting periods, while Windy Ridge Dairy (CAR488) gained 37,535 CCO-3s across 3 reporting periods. The maximum CCO-3s conversions was observed on an A-GAS ODS project as A-GAS Remtec 2013-1 (CAR1011) garnered 93,055 CCO-3s.
The latest updates mean that the early action pipeline dips to 7.12 million. The ROC pipeline remains steady at 1.61 million, as the past week also saw 78,902 ROCs assigned to Green Assets’ Middleton Place (CAR1109).
Prices for CCOs traded over-the-counter saw significant declines, as the CCO-8 dropped 3.2% Friday-Friday to $10.71. Additionally, the CCO-3 and Golden both saw a decline of 2.9% to close last Friday at $11.16 and $11.63 respectively.
ARB will next announce CCO issuances on Wednesday, April 27, at 12 PM PT
Rohan Nongpiur (email@example.com)
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