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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.



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