Climate Action Reserve Exceeds Milestone of One Hundred Greenhouse Gas Emissions Reduction Projects

November 12, 2009

Rapid growth of offsets registry demonstrates the strength and success of the North American carbon market

LOS ANGELES, CA – The Climate Action Reserve, the premier offset registry for the North American carbon market, today announced it exceeded the milestone of 100 greenhouse gas (GHG) emissions reduction projects. The milestone demonstrates the ability for the carbon market to successfully utilize a collaboration between the business and environmental communities to mitigate climate change. It also reflects these communities’ confidence in the quality and value of the Reserve’s offset credits, known as a Climate Reserve Tonnes (CRTs).

“With 100 projects submitted into the Reserve program, we can be confident that significant momentum is underway to effectively mitigate climate change through the carbon market,” said Linda Adams, Chair of the Climate Action Reserve Board of Directors and Secretary of the California Environmental Protection Agency. “The Reserve’s rigorous accounting and verification requirements, consistent performance standards and transparent public-participation process provide strong environmental safeguards for the credibility of project activities.”

The 100 project milestone also signifies the Reserve’s ability to effectively and efficiently administer its scalable program during a time of rapid growth and increased demand. The program was launched in May 2008 with just two forest projects in California. Today, the Reserve has projects listed and registered in 38 states. These projects were developed according to the Reserve’s protocols, which currently address GHG emissions reductions from forest, landfill methane, livestock methane, urban forest, coal mine methane and organic waste digestion projects throughout the nation. The Reserve also has landfill and livestock protocols for Mexico, which enable emissions reduction projects in that country to earn CRTs.

2/100 PROJECTS

The Reserve’s protocols ensure that GHG reductions are real, additional, verifiable, enforceable and permanent. Credited emissions reductions generate high quality offsets, which are above business-as-usual practices, regularly monitored and verified, subject to penalties for non-compliance and provide ever-lasting benefits to the environment. Each CRT offset credit represents one metric ton of carbon dioxide equivalent reduced or sequestered from the atmosphere. Information on issued CRTs and projects are publicly accessible through the Reserve website.

“The Reserve’s offset program provides an efficient means for project developers to qualify and register projects, as well as excellent transparency for carbon offset buyers,” said Erin Craig, President of Carbon Management Services, TerraPass. “We saw the value very early, and have submitted a dozen projects to date. As we continue our on-the-ground work addressing climate change, we expect to submit many more. The high value of CRTs reflects the credibility of our projects as well as the Reserve program.”

The Climate Action Reserve’s offset program has kept pace with the growing interest in offsets and has quickly progressed into the premier carbon market leader. The Reserve has been recognized and supported by the State of California, the State of Pennsylvania and leading environmental organizations, including the Environmental Defense Fund, Natural Resources Defense Council and Sierra Club.

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