(CaliforniaCarbon.info, Nov 10, 2016) Carbon offsets issued by California’s ARB have broken the 50 million mark this week with over 1 million credits being awarded across 9 new projects. Forestry accounted for half of this week’s issuances, gaining 608k across 2 new projects whilst a run of ODS projects reaped over half a million credits. Camco International picked up the remaining credits with two livestock projects. 21k CCO8s were issued for WTE-S&S Ag Enterprise in Door County, Wisconsin (CAR965) and 60k from the Double A Dairy in Idaho (ACR233). In addition, 131k CCO8s had their invalidation period shortened to 3 years from the Double A Dairy early action listing  (CAR956) across three separate reporting periods. Agri-Waste Technology were the verification body in charge of this month’s only CCO3 conversions.

The project developer Tradewater recorded their first ARBOC issuance this week, raising 116k from the Clean Harbours ODS facility and under the verification of Ruby Canyon (ACR350). Established this year, founder Tim Brown will be looking to expand his enterprise from reductions in ozone depleting substances as well as mine methane capture projects. Brown’s former company, Wabashco, also received issuances this month with 93k CCO8s coming from the business’s Clean Sweep 9 project (ACR343). Two further EOS Climate ODS projects in Bowling Green and Clean Harbours, brought in 86k and 104k respectively.

Meanwhile, Coolgas 2016-3 (CAR1239) was the only Climate Action Reserve registered project to gain issuances, accumulating 133k credits. In fact this project managed to turnaround credits in only 63 days after reporting period completion, making it the 5^th fastest project to generate CCOs under ARB compliance.

As far as forestry is concerned, Finite Carbon drew in the highest yielding project this week with the Tennessee River Gorge IFM Project. The 338k CCO8s awarded to the project now takes Finite Carbon’s total ARBOC count beyond the 5 million milestone. Meanwhile in California the Glass Ranch project in Humboldt County (CAR1103) received 270k CCO issuances, the states only domestic credits to be awarded this month for compliance on the WCI. With a significant amount of ROC issuances in October, nearly 14 million credits await issuance, that will potentially further bolster supply over the coming months.

No new credits emerged from Quebec recently meaning its total remains at 505k, whereas the recent issuances increase the amount allocated to the buffer pool to 5.59 million. During CP1, a total of 13.07 million offsets were retired across the WCI. However, this number is likely to change with the forthcoming results of offset usage with regards to this year’s compliance obligation.

ARB will be next updating its offsets issuances page on November 23 at 12PM (PT)

Billy Hamshaw (billy@californiacarbon.info)

Rohan Nongpiur (rohan@californiacarbon.info)