California issues 315k new offsets

Published 20:59 on April 27, 2016  /  Last updated at 20:59 on April 27, 2016  /  Americas, Canada, US  /  No Comments

California’s carbon market regulator ARB issued nearly 315,000 offsets this week, lifting all-time supply by 0.8% to 39.5 million units.

California’s carbon market regulator ARB issued nearly 315,000 offsets this week, lifting all-time supply by 0.8% to 39.5 million units.

Almost half of the credits, some 141,800, went to a new ODS project operated by EOS Climate Inc., the firm’s twenty-third facility to receive offsets for use in the state’s cap-and-trade scheme.

A further 116,000 units went to a new early action forestry project, while the remainder was split between three small projects.

ARB will on Thursday hold a public workshop to continue to evaluate the potential to allow the importing of international forest-based offsets into the California carbon market.

“Topics included for this workshop include how the linkage process would relate to sector-based crediting programs such as the program in Acre, Brazil, as well as potential approaches and criteria for ensuring that robust social and environmental safeguards are included in any sector-based crediting program ARB may consider for linkage,” the agency said.

The workshop will also focus on potential amendments needed to the state’s Cap-and-Trade Regulation in order for California to link to Ontario’s upcoming provincial carbon market.

By Mike Szabo – mike@carbon-pulse.com

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