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Offset Pricing Monthly Market Digest – November 2023

Offset Pricing Monthly Market Digest – November 2023

Offset Pricing Monthly Market Digest – November 2023

by Derek Six | December 6, 2023

 

Monthly Market Digest for November 2023

Offset Supply Information:

All CCOs issued to date: 254.48 million

CA and General Market Commentary:

  • Results for the Q4 ARB allowance auction was announced on Wednesday, November 22. For current vintages, the auction cleared at $38.73, a new record high clearing price, and a little bit higher than the market was anticipating.
  • DEBs and Non-DEBs CCOs continued to move in opposite directions again this month as DEBs gained and Non-DEBs credits traded lower. DEBs credits are perceived as being in short supply while Non-DEBs credits are perceived as adequately supplied. ClimeCo has questions as to whether this perception is correct. We note that in the latter half of the decade, offset usage limits are set to increase from 4% to 6%, and we note some structural issues as ODS issuances/project decline and Ag Methane projects have now almost entirely moved out of the offset program in favor of the CA LCFS program.
  • Issuances of CCOs in November totaled 535,958. Issuances YTD in 2023 are higher than YTD 2022 by 0.6% but lower than YTD 2021 by 34.2%: 


ClimeCo is a respected global advisor, transaction facilitator, trader, and developer of environmental commodity market products and related solutions. We specialize in voluntary carbon, regulated carbon, renewable energy credits, plastics credits, and regional criteria pollutant trading programs. Complimenting these programs is a team of professionals skilled in providing sustainability program management solutions and developing and financing of GHG abatement and mitigation systems.

For more information or to discuss how ClimeCo can drive value for your organization, contact us at 484.415.0501, info@climeco.com, or through our website climeco.com. Be sure to follow us on LinkedIn, Facebook, Instagram, and Twitter using our handle, @ClimeCo.

ClimeCo’s Advisory Service for The Blue Standard by Oceanic Global

ClimeCo’s Advisory Service for The Blue Standard by Oceanic Global

NEWS RELEASE
FOR IMMEDIATE DISTRIBUTION
CONTACT
Danielle A. Pingitore, Marketing Operations Manager
+1 484.206.4210 or dpingitore@climeco.com

ClimeCo’s Advisory Service for The Blue Standard by Oceanic Global

by: Tori Rocha-Baker | November 1, 2023

ClimeCo is excited to announce our advisory service that helps clients obtain Blue Standard Verification. The Blue Standard by Oceanic Global is awarded to organizations that eliminate single-use plastics and implement “Blue Actions,” defined by Oceanic Global as suggested best practices for comprehensive sustainable operations. The standard’s 3-star verification system encourages businesses, including venues, restaurants, hotels, events, office spaces, and tours, to make continuous commitments to sustainability while celebrating incremental achievements. The level of stars a recipient is awarded reflects their corresponding level of achievement in accordance with the standard’s criteria. 

ClimeCo is a trained and independent Blue Standard Consultant approved by Oceanic Global to provide Blue Standard implementation advisory services. In 2023, we proudly advised the Atlanta Green Market, an event filled with environmentally focused sustainable brands, to be awarded the 2-Star Seal of Oceanic Global’s Blue Standard Verification. This achievement verifies their efforts to reduce the event’s single-use plastics and implement sustainable actions, such as waste management compliance, locally sourced food, promotion of responsible travel/commute, procurement of carbon offsets, and more. 

To learn more about becoming verified with the Blue Standard, email Leticia Socal at lsocal@climeco.com or contact us here.

About Blue Standard

Launched in 2021 as an evolution of Oceanic Global’s long standing industry solution program (formerly known as The Oceanic Standard), the Blue Standard (Blue) combats greenwashing, establishes universal accountability for sustainable business leadership, and empowers industries and businesses of all sizes to achieve measurable impact that protects our blue planet. Developed together with Oceanic Global’s Scientific Advisory Board and trained experts in both WELL and LEED building rating systems, Blue features two core offerings: a 3-star sustainability verification system for Business Operations and Product and Packing Seals that verify plastic-free consumer goods. The Blue Standard offers specialized programs and consultation for industries including: hospitality, music, events, office spaces, professional sports, consumer packaged goods, and more, as well as free educational resources, step-by-step auditing and consultation support, and buying deals with a network of over 300+ vetted vendors to help businesses eliminate single-use plastics and operate sustainably. Blue has verified the sustainability achievements of over 480+ businesses across 35 countries to date, as well as helped shape over 7 environmental policies worldwide.

About ClimeCo

ClimeCo is a respected global advisor, transaction facilitator, trader, and developer of environmental commodity market products and related solutions. We specialize in voluntary carbon, regulated carbon, renewable energy credits, plastics credits, and regional criteria pollutant trading programs. Complimenting these programs is a team of professionals skilled in providing sustainability program management solutions and developing and financing of GHG abatement and mitigation systems.

Contact us at +1 484.415.0501, info@climeco.com, or through our website climeco.com to learn more. Be sure to follow us on LinkedIn, Facebook, Instagram, and Twitter using our handle, @ClimeCo.

Offset Pricing Monthly Market Digest – November 2023

Offset Pricing Monthly Market Digest – October 2023

Offset Pricing Monthly Market Digest – October 2023

by Derek Six | November 6, 2023

 



Offset Supply Information:

All CCOs issued to date: 253.94 million

CA and General Market Commentary:

  • DEBs and Non-DEBs CCOs moved in opposite directions this month as DEBs gained and Non-DEBs credits traded lower. DEBs credits are perceived as being in short supply, while Non-DEBs credits are perceived as adequately supplied.
  • Issuances of CCOs in October totaled 743,161. Issuances YTD in 2023 are lower than YTD 2022 by 0.3% and lag YTD 2021 by 28.7%: 


ClimeCo is a respected global advisor, transaction facilitator, trader, and developer of environmental commodity market products and related solutions. We specialize in voluntary carbon, regulated carbon, renewable energy credits, plastics credits, and regional criteria pollutant trading programs. Complimenting these programs is a team of professionals skilled in providing sustainability program management solutions and developing and financing of GHG abatement and mitigation systems.

For more information or to discuss how ClimeCo can drive value for your organization, contact us at 484.415.0501, info@climeco.com, or through our website climeco.com. Be sure to follow us on LinkedIn, Facebook, Instagram, and Twitter using our handle, @ClimeCo.

ClimeCo Assists Development of First-Ever Low-Carbon Cement Protocol

ClimeCo Assists Development of First-Ever Low-Carbon Cement Protocol

NEWS RELEASE
FOR IMMEDIATE DISTRIBUTION
CONTACT
Nancy Marshall, SVP, Marketing
+1 484.415.7603 or nmarshall@climeco.com 

ClimeCo Assists Development of First-Ever Low-Carbon Cement Protocol

Groundbreaking new protocol will generate production of more environmentally friendly building materials.  


BOYERTOWN, Pennsylvania (November 2, 2023)
ClimeCo, a leading global sustainability company, is pleased to have participated in the development process of the Climate Action Reserve’s (CAR) new U.S. Low-Carbon Cement Protocol. ClimeCo was honored to leverage its industrial and methodology expertise to participate in the process of developing a protocol that creates a tested and valid pathway for companies to generate voluntary carbon credits and create the scale necessary to displace carbon-intensive cement manufacturing. We are thrilled with CAR’s end product, which was the result of significant stakeholder input and public comment.

The protocol establishes a first-of-its-kind pathway to generate voluntary carbon credits from the production of novel and underutilized alternative cementitious materials (ACMs) and supplementary cementitious materials (SCMs). Funds generated by these credits will be used to incentivize the production and scaled use of innovative, less carbon-intensive materials to meet growing demand, reduce emissions and help enable exponential positive change. For more than 18 months, ClimeCo worked closely with numerous stakeholders, including Eco Material Technologies and the Portland Cement Association, to create, seek comment and refine this important effort. 

The new protocol was created to address a pressing emissions crisis in the cement industry. Concrete is the second-most-used material by mass, behind only potable water. As the key binding ingredient in concrete, cement production accounts for about 8% of global carbon dioxide (CO2) emissions, largely due to the creation of an intermediary product called clinker, which can be avoided by using less polluting SCMs. Traditional SCMs are declining in supply, making them difficult to source for many cement and concrete manufacturers. The Global Cement and Concrete Association (GCCA) has determined that the sector can only scale low-carbon cement to the degree required to meet targets with additional financing.  

The protocol creates a tested and valid pathway for companies to generate voluntary carbon credits and direct much-needed funds to the production of additional cementitious materials that can fill the worsening supply void and create the scale necessary to displace carbon-intensive cement manufacturing.   

Dedicated to transparency and genuine impact, ClimeCo and industry stakeholders worked with CAR to ensure that the protocol follows strict rules on additionality, permanence, ownership, and quantification in generating and awarding offsets. To earn credits, manufacturers must produce usable materials that are widely recognized as beyond business-as-usual and surpass regulatory requirements. Eligible components include natural pozzolans (like volcanic ash), calcined clay, rice husk ash, and harvested and beneficiated coal ash, which has the added benefit of cleaning landfills.   

“While demand for cement has never been higher, it remains an exceptionally difficult-to-abate industry,” said ClimeCo President and CEO Bill Flederbach. “This new protocol demonstrates the power of credible, validated, and science-based voluntary carbon credits in accelerating the pace and adoption of environmental reforms. It also confirms ClimeCo’s belief that by engaging the right partners and taking a holistic approach, EVERY industry and EVERY company, even those facing the biggest challenges, can make a huge difference. Time is of the essence, and ClimeCo is proud to participate in efforts to build the way toward a brighter future.”  

For more information on how ClimeCo assisted in the development of the protocol, please read the documents and information pertaining to the protocol development.

About ClimeCo

ClimeCo offers a full range of sustainability advisory with a balance of industrial and nature-based carbon solutions that meet the diverse needs of clients’ climate programs. We also provide specialized technical solutions for hard-to-decarbonize industries. From developing methodologies to support GHG reduction innovation to advising on solutions for optimal sustainability impact to reach Environmental, Social and Governance (ESG) goals, ClimeCo is the right partner to help address environmental challenges.   

For more information or to discuss how ClimeCo can drive value for your organization, contact us through our website, climeco.com. Follow us on LinkedIn, Facebook, Instagram, and Twitter using our handle, @ClimeCo. 

ClimeCo’s Updated Product Certification Protocol Is Open for Public Comment Until Nov. 30, 2023

ClimeCo’s Updated Product Certification Protocol Is Open for Public Comment Until Nov. 30, 2023

NEWS RELEASE
FOR IMMEDIATE DISTRIBUTION
CONTACT
Nancy Marshall, SVP, Marketing
+1 484.415.7603 or nmarshall@climeco.com 

ClimeCo’s Updated Product Certification Protocol Is Open for Public Comment Until Nov. 30, 2023

BOYERTOWN, Pennsylvania (November 1, 2023) – ClimeCo, a leading global sustainability company, announced today that the draft of its newly updated Product Certification Protocol, formerly called the Carbonfree Product Certification Protocol, is open for public comment and feedback for a period of 30 days, from Nov. 1, 2023 to Nov. 30, 2023. 

ClimeCo Product Certification Protocol

In 2022, ClimeCo acquired assets of Carbonfund.org along with its popular Carbonfree Product Certification Program. To better integrate the program with ClimeCo’s service offerings and to further enhance the program based on feedback from companies, consumers, market participants and key external stakeholders, ClimeCo has made substantial updates to the program’s protocol. Keeping in line with the process when making substantial updates to certification program protocols, and upholding ClimeCo’s focus on authenticity, transparency and stakeholder engagement, the company welcomes comments and suggestions from the public on the draft protocol to help solidify the program.

Notable updates to the protocol include:

  • Rebranding the program from Carbonfree to ClimeCo Certified Product™;
  • New program logo and badge;
  • Clear seven-step process for certification;
  • Added measures for transparency, credibility and independence via introduction of 3rd party review;
  • Emphasis on carbon emissions reduction;
  • Guidance and template for life cycle assessment (LCA) report submission;
  • Communication guidelines and support for participating companies;
  • Guidance for annual program renewal requirements and process

The draft protocol is available here: ClimeCo Certified Product™ Protocol. Comments on the draft protocol can be sent to productcertification@climeco.com. Comment Period closed on November 30, 2023. 

About ClimeCo

ClimeCo offers a full range of sustainability advisory with a balance of industrial and nature-based carbon solutions that meet the diverse needs of clients’ climate programs. We also provide specialized technical solutions for hard-to-decarbonize industries. From developing methodologies to support GHG reduction innovation to advising on solutions for optimal sustainability impact to reach Environmental, Social and Governance (ESG) goals, ClimeCo is the right partner to help address environmental challenges.    

For more information or to discuss how ClimeCo can drive value for your organization, contact us through our website, climeco.com. Follow us on LinkedIn, Facebook, Instagram, and Twitter using our handle, @ClimeCo.  

From Voluntary to Compliance: California’s Groundbreaking Climate Disclosure Bills

From Voluntary to Compliance: California’s Groundbreaking Climate Disclosure Bills

NEWS RELEASE
FOR IMMEDIATE DISTRIBUTION
CONTACT
Nancy Marshall, SVP, Marketing
+1 484.415.7603 or nmarshall@climeco.com

From Voluntary to Compliance: California’s Groundbreaking Climate Disclosure Bills

by: Jacob Wills | October 17, 2023

On September 12, California’s legislature passed two landmark climate disclosure laws. Senate Bill 253, the Climate Corporate Data Accountability Act, and Senate Bill 261, the Climate-Related Financial Risk Act, require disclosures of greenhouse gas (GHG) emissions and climate risk for California companies exceeding certain revenue thresholds. On October 7, Governor Gavin Newsom signed both bills into law.

Here are some key points on each bill: 

Some key pieces of both laws will need clarification during the rulemaking process. At the forefront are those raised by the Governor around the implementation deadlines and reporting challenges. The Governor has instructed the California Air Resources Board (CARB), the agency tasked with implementing the program, to monitor the financial impact on businesses closely. Additionally, policymakers will have to define what it means to conduct business in California and provide guidance on reporting in a manner “easily understandable and accessible” for stakeholders. 

The passage of these laws in California could impact the SEC rulemaking process. Since thousands of companies would already be required to report under the California disclosure laws, the cost-benefit analysis for the SEC rule would improve, making it easier to issue a final rule. As it stands, the SEC is expected to vote on the climate disclosure rule by the end of October. 

Our Sustainability, Policy, and Advisory team is equipped to answer questions related to these new laws and help companies prepare for compliance. Contact us today at info@climeco.com or through our contact page.

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About ClimeCo

ClimeCo is a respected global advisor, transaction facilitator, trader, and developer of environmental commodity market products and related solutions. We specialize in voluntary carbon, regulated carbon, renewable energy credits, plastics credits, and regional criteria pollutant trading programs. Complimenting these programs is a team of professionals skilled in providing sustainability program management solutions and developing and financing of GHG abatement and mitigation systems.

Contact us at +1 484.415.0501, info@climeco.com, or through our website climeco.com to learn more. Be sure to follow us on LinkedIn, Facebook, Instagram, and Twitter using our handle, @ClimeCo.