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arbcombo -- Now Available – Staff Presentation on Requirements for CARB Cap-and-Trade Compliance Offset Program
Posted: 11 May 2016 12:28:39
The California Air Resources Board (CARB) has posted a presentation for the Cap-and-Trade Compliance Offset Program. The presentation provides an overview of the regulatory requirements for implementing an offset project and the process for issuance of compliance offset credits. Staff is making this presentation available to ensure market participants have the most recent information on the compliance offset program requirements and process. The presentation includes the following information: • An overview of the Cap-and-Trade Program • Information on offsets and their general criteria • A list of the current Compliance Offset Protocols • Regulatory Compliance • Air Resource Board Compliance Offset Protocol contacts • An overview of the offset project process including registration, listing, listing deadlines, monitoring and reporting, monitoring and reporting deadlines, verification, and issuance The presentation can be found here: http://www.arb.ca.gov/cc/capandtrade/offsets/cap.and.trade.offsets.webinar.pptx For more information on the Compliance Offsets Program: http://www.arb.ca.gov/cc/capandtrade/offsets/offsets.htm BACKGROUND The Board first formally adopted the Cap-and-Trade Regulation in October 2011, and subsequently approved limited amendments to the Cap-and-Trade Regulation in June 2012, October 2013, April 2014, September 2014, and most recently June 2015. Offsets are a key element of the flexibility afforded by a Cap-and-Trade Program to help ensure that the needed GHG emissions reductions are cost-effective. Offsets offer low- cost emissions-reduction opportunities for covered entities to meet up to 8% of their compliance obligation. Offsets are tradable credits that represent verified GHG emissions reductions made in areas or sectors not covered by the Cap-and-Trade Program. One offset credit is equal to one metric ton carbon dioxide equivalent of GHG emission reductions. In addition to providing compliance flexibility, the inclusion of offsets in the program will support the development of innovative projects and technologies from sources outside capped sectors that can play a key role in reducing emissions both inside and outside California. Offsets must meet rigorous criteria that demonstrate that the emissions reductions are real, permanent, verifiable, enforceable, and quantifiable. To be credited as an offset, the action or project must also be in addition to what is required by law or regulation or would otherwise have occurred under a conservative business-as-usual scenario. California is in a drought emergency. Visit www.SaveOurH2O.org for water conservation tips. 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, offsets.