Issuance of credits under California’s cap-and-trade compliance protocols continues wave of activity on the heels of announcement of first ARBOCs
LOS ANGELES, CA – Continuing to drive activity under California’s cap-and-trade program, the Climate Action Reserve, North America’s most trusted, experienced and knowledgeable carbon offset registry, issued Registry Offset Credits (ROCs) under one of the program’s compliance offset protocols. The issuance comes immediately after the California Air Resources Board (ARB) announced it is in the final stages of issuing the first ARB Offset Credits (ARBOCs).
“We have known the foundation of the compliance offsets program is solid, but this flurry of activity with offset credit issuance will breathe new excitement into the market. The issuance of these ROCs gives confidence in the continued momentum of the program. And, since these credits were issued by the Climate Action Reserve, their quality and integrity are well respected,” said Linda Adams, Chair of the Climate Action Reserve Board of Directors and Founding Partner of Clean Tech Advocates.
The ROCs were issued to an ozone depleting substance (ODS) project from EOS Climate. Through the project (EOS ARB ODS 2013-1), EOS Climate destroyed pure ODS refrigerant at the Clean Harbors Environmental Services hazardous waste combustor in El Dorado, Arkansas. This ODS was completely obtained from sources in the U.S. Because of the project, 107,542 metric tons of CO2 equivalent were prevented from being emitted into the atmosphere. According to the U.S. EPA, this is similar to removing 22,405 passenger vehicles from the roads for a year.
“EOS Climate is very proud to be the offset project operator for this milestone project in California’s cap and trade program,” said Matt Jones, CEO of EOS Climate. “EOS, together with our operating partners, created a project management system for ODS refrigerant destruction projects that sets the industry standard for transparency, rigor, and environmental impact.”
ROCs are eligible to be transitioned by ARB into ARBOCs, which can be used to meet compliance obligations under the cap-and-trade program. ROCs are issued under the compliance offset protocols adopted by ARB under the cap-and-trade program. On September 17, the Reserve announced three early action offset projects registered with it were in the final stages of being issued ARBOCs. Early action projects are issued Early Action Offset Credits (EAOCs) under ARB-approved voluntary offset protocols, which currently are all Reserve protocols, and the EAOCs are eligible to be transitioned by ARB into ARBOCs.