Glossary

ClimeCo’s Feature in Sustainable Plastics’ Magazine

ClimeCo’s Feature in Sustainable Plastics’ Magazine

ClimeCo’s Feature in Sustainable Plastics’ Magazine

ClimeCo is featured in a 3-page spread in Sustainable Plastics Magazine’s May/June 2021 issue! This article was written by ClimeCo’s Plastic Program Director, Chris Parker, and Vice President of Marketing, Nancy Marshall. The article discusses how we are finding more value in plastic and talks about ClimeCo’s launch of the world’s first plastic credit, how it works, the benefits, our partnership with TONTOTON, and the future of plastic credits. Click the image below or read the full article, “Giving credit where due: finding more value in plastic”, by visiting https://www.sustainableplastics.com/news/giving-credit-where-due-finding-more-value-plastic.


Sustainable Plastics Magazine
COPYRIGHT AND LIMITATIONS ON USE

 

About Sustainable Plastics Magazine

Over the past few years, the plastics industry has been faced with an ongoing trend toward a more sustainable plastics economy. This trend reaches deeply into every aspect of the industry. The Sustainable Plastics platform reflects this changing landscape of the plastics industry. Featuring the Plastics Recycling event, a bimonthly magazine, a website, a newsletter, and, in the future, webinars, Sustainable Plastics focuses on developments, news, and events that are shaping the plastic industry’s vital transition toward a viable, circular plastics economy.
 

Phone: 1-313-446-0450
Email: customerservice@sustainableplastics.com

About ClimeCo 

ClimeCo is a respected advisor, transaction facilitator, and trader of environmental commodity market products and related services. 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 services, 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.

Offset Pricing Monthly Market Digest – June 2021

Offset Pricing Monthly Market Digest – June 2021

Offset Pricing Monthly Market Digest – June 2021

Offset Supply Information:

All CCOs issued to date: 221.23 million

Compliance credits awaiting issuance: 16.13 million

CA and General Market Commentary:

  • Issuances of CCOs continued to be slow in June. The ROC backlog increased by nearly 2 million.  Relatively low issuances of new CCOs continue to constrain the offsets available to entities as they look to fulfill their obligations at the 3-year compliance deadline on November 1st.

  • Allowance (CCA) prices continued their strong move upward, increasing $2.31/CCA since the end of May. Offset (CCO) prices moved upward as well during June, but continue to underperform the increases seen in CCA prices.  CCO-0s are now priced at a 32% discount to allowances, which appears to be a record high discount %.

ClimeCo is a respected advisor, transaction facilitator, and trader of environmental commodity market products and related services. 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 services, 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.

Offset Pricing Monthly Market Digest – June 2021

Offset Pricing Monthly Market Digest – May 2021

Offset Pricing Monthly Market Digest – May 2021

 

Offset Supply Information:

All CCOs issued to date: 220.94 million

Compliance credits awaiting issuance: 14.13 million

CA and General Market Commentary:

  • On May 27th, ARB released the results of its quarterly allowance auction. Current vintage allowances cleared at $18.80, a substantial premium to the $17.71 auction reserve price.  The bid-to-cover ratio was 1.48, a strong result compared to auctions in 2020.
  • Issuances of CCOs continued to be slow in May. The ROC backlog increased by nearly 3 million.  Relatively low issuances of new CCOs continue to constrain the offsets available to entities as they look to fulfill their obligations at the 3-year compliance deadline on November 1st.

ClimeCo is a respected advisor, transaction facilitator, and trader of environmental commodity market products and related services. 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 services, 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.

World’s First Plastic Credit

World’s First Plastic Credit

NEWS RELEASE
FOR IMMEDIATE DISTRIBUTION
CONTACT
Nancy Marshall, Vice President, Marketing
484.415.7603 or nmarshall@climeco.com

World’s First Plastic Credit

June 8th, 2021 (Boyertown, PA)ClimeCo, a leader in the management and development of environmental commodities, has partnered with TONTOTON, a project developer in Vietnam that removes no-value plastic from the environment to generate the world’s first plastic credit from an independent protocol and 3rd party verification audit.  These credits were achieved through the Ocean Bound Plastic Neutrality Certification from French-based NGO Zero Plastic Oceans, and have been verified by leading global certification specialist Control Union Certifications.  A plastic credit is an environmental commodity that represents the collection or recycling of one tonne of plastic material, which can be transferred between organizations. ClimeCo will market the plastic credits generated from this partnership, and clients will have the ability to purchase credits to use in their ESG, CSR, and sustainability programs.

“We decided to partner with and support TONTOTON because of their solution to create value in recovering plastic waste before it enters the ocean, that without them would otherwise not happen,” says Chris Parker, Director of Plastic Markets at ClimeCo. “Their values of addressing environmental justice, community health, and the welfare of workers matched our own.”

TONTOTON projects recover post-consumer, non-recyclable, ocean bound plastic waste and co-process it into AFRM (Alternative Fuels & Raw Materials), which replaces coal at a local manufacturing plant to reduce the site’s GHG emissions. TONTOTON’s program is built on economic benefits for all parties, from the informal waste pickers to the funding companies. ClimeCo’s investment in TONTOTON has allowed them to hire workers, expand capacity, and start working in new areas in Vietnam to scale up the volume of plastic waste recovery. 

“Plastic credits allow us to create a significant environmental and social impact by focusing on non-recyclable plastic that has no demand in the commodity market and is the main cause of pollution in our oceans,” says Barak Ekshtein, Founder and CEO at TONTOTON. “ClimeCo’s environmental approach to long-term solutions allows us to be creative in developing sustainable circular economy projects that will impact the environment over the years.”

Many social and environmental co-benefits should result from successful plastic credit projects. TONTOTON provides workers who are primarily female with an additional sustainable income, personal protective equipment, and primary health insurance for those who need it. The projects also support local governments, NGOs, and local businesses to build sustainable waste management infrastructure where it does not exist, creating circular economics. Their work is helping to conserve marine biodiversity and contributing to ecosystem restoration.

For more information on these first plastic credits or other projects, contact us by using the information listed below.

About ClimeCo

ClimeCo is a respected advisor, transaction facilitator, and trader of environmental commodity market products and related services. 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 services, 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.

Offset Pricing Monthly Market Digest – June 2021

Offset Pricing Monthly Market Digest – April 2021

Offset Pricing Monthly Market Digest – April 2021





Offset Supply Information:

All CCOs issued to date: 220.08 million
Compliance credits awaiting issuance: 11.42 million

CA and General Market Commentary:

ARB will hold its next quarterly auction on May 19th, 2021, with results released May 27th.

In April there were at least four important news items that likely moved the market higher:

  1. The US Department of Justice dropped a lawsuit filed by the previous administration which challenged California’s right to link their program to Quebec’s.  Although the lawsuit had failed in court, an appeal had been pending until this action.
  2. Washington state passed a Cap and Invest bill that appears to be designed to allow possible linkage to the WCI program.
  3. The Biden Administration announced more ambitious targets for US emission reductions, placing its goal at 50-52% below 2005 emissions levels by 2030.
  4. Inflation accelerated in March, with CPI-U increasing 0.6% for the month and 2.6% for the trailing twelve-month period.  Since the CA auction floor price for allowances increases each year by 5% plus CPI-U, this substantial change to inflation implies a higher expected 2022 floor price for allowances.

    Issuances of CCOs by ARB in April were relatively muted, and the ROC backlog awaiting issuance was nearly unchanged.  This impacts available supply of CCOs as we head to the 3-year compliance deadline on November 1st, 2021.

ClimeCo is a respected advisor, transaction facilitator, and trader of environmental commodity market products and related services. 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 services, 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.

A Story About Circular Restoration

A Story About Circular Restoration

A Story About Circular Restoration

by: Chris Parker, Director of Plastics Program | April 28, 2021

This blog provides a fictional story about a town called San Maya on the Central American Caribbean coast.  Even though the town is fictional, as well as the project in this story, it is based on real activities that are currently happening in different locations all around the world.  We have combined these activities into a single story to provide you a glimpse into what it could look like if we used innovation, determination, and cooperation together to address our plastic waste problem. 


The Story of San Maya

For generations, the small town of San Maya on the Central American Caribbean coast made its living from fishing.  In the 1990s, tourists from all over the world began coming to experience the local culture, scuba dive, bird watch, and fish.  Residents enjoyed new employment opportunities and rising incomes.  During the 2000s, they were able to build a new school, clinic, and water treatment plant.  Plans were put in place to protect the mangrove forests, waterways, and reefs, as these were the economic resources providing new prosperity.

Today, San Maya’s beaches, estuaries, and reefs are covered with plastic waste that flows down the Rio Jaguar river from the city.  The mangroves are dying from the combination of plastic toxicity, climate change, and removal.  Tourists stopped arriving a few years ago due to the town’s inability to manage the volume of plastic from the river, which litters the community.  With the loss of tourism income, local anglers returned to their boats for commercial fishing, yet most of their trips resulted in catching more plastic than fish.  Today, the people are moving away from San Maya in search of work; they have become plastic refugees.

A Time to Restore

The future of San Maya depends on the restoration of its fishery ecosystem.  This requires removing plastic waste from its environment, diverting future ocean bound plastic, and creating a waste management infrastructure.  San Maya’s plastic waste has unrealized value and, once it becomes valued, the city can help create a more circular economy in the region. 

The emergence of the plastic credit market has created an opportunity to help San Maya.  ClimeCo can work with the community to fund the removal of plastic waste and start a recycling operation to upcycle collected material into next-use construction products while helping to restore the mangrove forests.  Local industry can be approached to solicit their support in the project to reduce the business risk associated with increased economic and societal disruption from plastic waste.  Because this local industry is currently focused on new carbon neutrality commitments and goals for addressing their plastic footprint, this represents a unique opportunity for them.

Creating the Rio Jaguar Project

The upfront funding from ClimeCo’s partnering company can be used to build a small recycling facility and hire San Maya residents to collect, measure, sort, and record the recovered plastic – thus creating the Rio Jaguar Project.  From the project’s plastic collection and recycling operations, ClimeCo would develop and register new plastic credits through Verra’s Plastic Waste Reduction Program.  Each credit represents one tonne of recovered or recycled plastic, which upon issuance, a company can purchase to support frontline efforts tackling the plastic waste crisis. 

Part of the agreement with our Rio Jaguar project’s industry partner is that they will receive a portion of the generated plastic credits, which can be used to offset part of their plastic footprint.  ClimeCo will sell the remaining credits, and the proceeds can fund the purchase of a river trap to collect ocean bound plastic debris, as well as the expansion of the San Maya recycling facility.  As the area’s ecosystem gets restored, the Rio Jaguar project will move into phase 2 – ClimeCo providing capital to hire additional workers to plant thousands of mangrove seedlings.

Mangroves are very efficient at sequestering and storing carbon compared to their terrestrial counterparts, up to 10 times better.  ClimeCo will develop and register carbon offsets through Verra’s Blue Carbon Conservation methodology from the new mangrove plantings.  As part of our industry partner’s carbon neutrality program, they will purchase a portion of the mangrove-issued carbon offsets, which will be used to help address its manufacturing facility’s greenhouse gas emissions.

Conclusion and Potential Co-Benefits

Plastic credit projects can address various interrelated problems: ecosystem degradation, inadequate waste management, biodiversity loss, health and economic risks, and carbon-fueled climate change.  These projects can also support a menu of UN Sustainable Development Goals, including:

  • No Poverty
  • Decent Work & Economic Growth
  • Industry, Innovation & Infrastructure
  • Sustainable Cities & Communities
  • Climate Action
  • Life Below Water
  • Partnerships for Goals

Success for these types of projects requires establishing working partnerships to the benefit of all stakeholders.  Unfortunately, the problems seen in this story are being replicated all over the globe, yet the efforts of government and philanthropy are not matching the scale of these problems.  One key component is for private sector companies to use their vision and capital to initiate circular economics.  The development of plastic credits and carbon offsets in this story gave our industrial partner the market-based financing mechanisms to deploy its capital and help create relationships to benefit its ESG programs.  Plastic recovery and mangrove restoration provide the value to move a restoration and circular business economy forward.  Partnerships will make it sustainable.  

To learn more about plastic waste, Verra’s Plastic Waste Reduction Program, or discuss an idea for a project, please feel free to contact us.  We would love to help you become part of a circular restoration project.


About the Author

Chris Parker has 20+ years of experience in energy and commodity markets, sustainability, conservation, and ESG. He leads ClimeCo’s plastic market program, which partners with projects worldwide to recover and recycle plastic waste.  Prior to joining ClimeCo, Chris had been consulting and leading projects in both the corporate and environmental nonprofit sectors to create business solutions for a sustainable economy.  Chris holds a Bachelor of Science in Corporate Finance & Investment Management from the University of Alabama.  He loves to spend his free time surfing, climbing, fishing, and playing chess.