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The Air Resources Board (ARB) will release information related to
the ODS investigation on the ARB website at 12:00 pm (noon)
Pacific Time Wednesday, October 8th.    On May 29, 2014, the
California Air Resources Board (ARB) initiated an investigation
of compliance offset credits issued for ozone depleting substance
destruction events that took place at the Clean Harbors
Incineration Facility in El Dorado, Arkansas  (Facility) which
may have been generated while the facility was not in compliance
with provisions of its operating permit issued under the federal
Resource Conservation and Recovery Act (RCRA).  The Executive
Officer has made a preliminary determination.  The preliminary
determination will be made publicly available at noon PT, October
8th, 2014, here: 
http://www.arb.ca.gov/cc/capandtrade/capandtrade.htm

The following steps provide detail on the process towards the
issuance of a final determination.

1.	The posting of the preliminary determination begins a 10-day
comment period that starts at noon PT, October 8, 2014 through 5
pm PT, October 17, 2014.  During the 10-day comment period, ARB
invites public comment on the preliminary determination. The
10-day comment period serves as an opportunity for the public to
review and respond to the information considered by the Executive
Officer in making a preliminary determination.   Any additional
materials received during this comment period will be evaluated
and considered by the Executive Officer in making the final
determination.  This comment period is not required by the
Cap-and-Trade Regulation, but ARB believes it is important for
stakeholders to be aware of the information that was reviewed in
support of the preliminary determination and to have an
opportunity to provide additional relevant information prior to
the Executive Officer making a final determination.

2.	The conclusion of the 10-day comment period starts the
regulatory 30-day period for the Executive Officer to make a
final determination as to whether ARB will invalidate any
compliance offset credits generated at the Facility.
  
3.	After the 30-day period begins, the Executive Officer may
issue the final determination at any time and does not need to
wait for the 30-day period to conclude.

4.	The release of the final determination will be noticed ahead
of time to ensure all market participants receive the information
simultaneously. 

5.	Once the final determination is made publicly available,
offsets determined to be valid that were removed from accounts
during the investigation will be returned to the holders of those
offsets.

Submission of Information during 10-Day Comment Period

Only comments submitted at the link below will be considered by
the Executive Officer in making a final determination:

http://www.arb.ca.gov/cc/capandtrade/capandtrade.htm

Background

The California Air Resources Board (ARB) has been reviewing
whether compliance offset credits issued for ozone depleting
substances destruction events that took place at the Facility
were generated while the Facility was not in compliance with
provisions of its operating permit issued under the federal
Resource Conservation and Recovery Act (RCRA).  ARB believes the
greenhouse gas reductions represented by the offsets are real,
quantified, and verified reductions. The offset program serves as
an important cost containment feature of the Cap-and-Trade
Program.  

The Cap-and-Trade Regulation allows ARB to investigate and
invalidate any issued compliance offset credits that were
generated if the offset project activity and implementation of
the offset project was not in accordance with all local, state,
or national environmental and health and safety regulations
during the reporting period for which the ARB offset credit was
issued.  

During the period of review and until a final determination is
issued, ARB has blocked transfers of potentially impacted
compliance offset credits.  Once ARB blocked the transfer of
compliance offset credits under investigation on May 29, 2014,
all parties identified as holders of potentially impacted
compliance offset credits had 25 calendar days to provide
additional information to ARB to aid in the review.  ARB also
requested specific additional information to aid in its review. 
The Executive Officer has 30 calendar days from the day that all
information is submitted to make a final determination whether to
invalidate any compliance offset credits subject to review.  Once
the review is completed, any compliance offset credits determined
to meet the requirements of the Regulation, will be made
available to the CITSS accounts of the respective owners.

None of the compliance offset credits currently under review have
been used for compliance in the Cap-and-Trade Program.



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