The Air Resources Board (ARB) will release information related to
the issuance of ARB offset credits to early action and compliance
offset projects on the ARB website at 12:00 pm (noon) Pacific
Time Tuesday, September 24th. Regular releases beginning in
October will be at 12:00 (noon) Pacific Time on the second and
fourth business Wednesdays of each month. These releases will
include information about early action and compliance offset
projects that have been issued ARB offset credits. The
information will be posted on ARB's Offset Credit Issuance
website at:
http://www.arb.ca.gov/cc/capandtrade/offsets/issuance/issuance.htm.
Background
ARB offset credits are issued to offset projects that meet
specific requirements in the Cap-and-Trade Regulation. ARB
offset credits, which may be used for compliance in the
Cap-and-Trade Program, represent verified greenhouse gas (GHG)
emission reductions or removal enhancements achieved under ARB's
Compliance Offset Protocols or approved early action
quantification methodologies.
For offset projects developed using a Compliance Offset Protocol,
the first step in the process is for the Offset Project Operator
(OPO) to list the compliance offset project with an ARB approved
Offset Project Registry (OPR). Once the listing information for
a compliance offset project has been submitted, the OPR will
review it and the offset project will be listed on the OPR's
public website. The listing information provides general
information about the compliance offset project.
Once listed, the OPO must monitor, report, and verify the GHG
emissions reductions or removal enhancements achieved by the
offset project. Upon satisfying the requirements in the
Regulation, and successfully completing verification, registry
offset credits may be issued to the offset project by the OPR.
Registry offset credits are not valid instruments for satisfying
a compliance obligation in the Cap-And-Trade Program.
Once the offset project has been issued registry offset credits,
the OPO may request the issuance of ARB offset credits. After
the request has been made, ARB will conduct a full review of all
project documentation. If the review shows conformance with the
Regulation and applicable Compliance Offset Protocol, ARB offset
credits may be issued into the ARB market tracking system after
ARB receives confirmation that the OPR has retired the
corresponding registry offset credits. After ARB offset credits
are issued information regarding the compliance offset project,
including number of ARB offset credits issued by vintage and
invalidation timeframe, will be made publicly available on ARB's
Compliance Offset Project website.
More detailed information about the process for crediting
compliance offset projects, including project eligibility, can be
found in Chapter 6 of the ARB Instructional Guidance Document and
in Subarticle 13 of the Cap-and-Trade Regulation.
For offset projects developed using an approved early action
quantification methodology, details on the process for issuing
ARB offset credits can be found at:
http://www.arb.ca.gov/cc/capandtrade/offsets/earlyaction/projects.htm.
If you have any questions related to the ARB compliance offset
program, please contact Brieanne Aguila at (916) 324-0919.
For more information on the California Cap-and-Trade Program,
please go to:
http://www.arb.ca.gov/cc/capandtrade/capandtrade.htm.
You are receiving this single arbcombo email because you are a
subscriber to or have made a public comment to one or more of the
following lists: capandtrade, cc, ghg-rep, ghgverifiers, offsets.
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The energy challenge facing California is real. Every Californian
needs to take immediate action to reduce energy consumption. For
a list of simple ways you can reduce demand and cut your energy
costs, visit the Flex Alert website at www.flexalert.org .
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