May 16, 2016 by Rohan Nongpiur
CaliforniaCarbon.info, May 16, 2016: May’s first California carbon offset (CCO) issuance event saw The Air Resources Board issue 68,445 CCOs across 4 livestock projects; the lowest in 5 months. Two of the projects were from ARB compliance, while the other two were early action projects. A further 57,676 CCO-8s also saw conversions to CCO-3s. The total CCO and CCO-3 count now stands at 39.6 million and 6.9 million respectively.
Camco’s District 45 Dairy (CAR1127) managed 22,318 CCOs. Riverview were the offset project operators (OPOs) and Analytical Environmental Services performed verification activities for this project. This is the fourth Camco project to gain CCOs out of the 23 listed under ARB compliance. At 192 days from reporting period completion to CCO issuance, this also happens to be the fastest Camco livestock project to have been awarded CCOs and the fifth fastest out off all livestock projects under ARB compliance. The average lead time for livestock reporting periods that have gained CCOs under the ARB protocol is approximately 380 days.
The second ARB project to see issuances was the Washington based Farm Power Lynden Anaerobic Digester (CAR1128), as it managed 22,901 CCOs. This project operated by Farm Power Northwest, is only the second Washington based livestock project to gain CCOs under ARB compliance. The project was previously listed under early action as CAR794 with The Climate Trust acting as the project developer. While CAR1128 is the only project listed by Farm Power Northwest as an entity so far, the owner, Daryl Maas, does have two other California based livestock projects (CAR1108 and CAR1178) listed under the entity Maas Energy Works, which are still awaiting ROC issuances.
Under early action, Ag Methane Advisors saw 20,464 and 2,762 CCOs awarded to its Maple Leaf Dairy West (CAR1007) and Maple Leaf Dairy East (CAR762) projects respectively. Ruby Canyon Engineering were the early action verifiers for both these projects. Ag Methane Advisors now have a total of 108,763 CCOs issued across 8 projects (9 reporting periods), out of which the majority 93,282 CCOs (7 projects; 8 reporting periods) have come under early action.
Camco’s District 45 Dairy (CAR775) under early action saw 57,676 CCO-8s across four reporting periods, converted to CCO-3s. Around 42,910 of these credits will gain immunity from invalidation at various points in 2017, while the remainder will only achieve immunity by late September 2018.
Apart from the recent issuances, the past week also saw Coolgas 2015-3 (CAR1219) and Patterson Farms (CAR1137) gain 108,622 ROCs and 8,379 ROCs respectively. The ROC pipeline consequently rises to 1.54 million, where as the early action credit now sits slightly above the 7 million mark.
ARB will next announce CCO issuances on Wednesday, May 25, at 12pm PT.
Rohan Nongpiur (email@example.com)