Offset Developers Form CODA to Promote Effective Cap-and-Trade Market in California
San Francisco, CA, June 25, 2013 / 3BL Media
Developers of offset projects for California’s cap-and-trade program have formed the
Compliance Offset Developers Association (CODA) to leverage its members’ expertise and
promote an effective offset market in California.
Drawing on members’ carbon market experiences in California, North America and
internationally, CODA will communicate with regulators and administrators about the rules,
regulations and procedures surrounding greenhouse gas emissions reduction projects governed
by the California Greenhouse Gas Cap-and-Trade Program.
“CODA creates a forum for project developers and owners to provide input and expertise to the
Air Resources Board and Offset Project Registries as California’s offset program takes shape and
developers commit capital to emissions reduction projects,” said Charles Purshouse, the group’s
elected chairman. “CODA will actively engage with regulators and other program participants to
support a strong, efficient and transparent offset market.”
CODA functions as a member-driven and transparent organization to fairly represent offset
developers and facilitate an open exchange of ideas and experiences. Membership is accessible
to companies that have three or more projects registered with one of the California-approved
project types. Current members include A-GAS RemTec, Camco, Coolgas, Inc., Diversified
Pure Chem, Environmental Credit Corp, and Terrapass. For information about joining CODA,
eligible companies may contact Nick Facciola at [email protected].
Offsets are an important design aspect of California’s cap-and-trade program. Projections
forecast that more than 200 million offsets will be required by the program to meet 2020 targets.
While the program started in January 2013, and three successful allowance auctions have been
held to date, compliance offsets from early-action projects and projects using California Air
Resources Board (ARB) protocols have yet to be issued. For offset project investors and
stakeholders, the regulations governing the offset creation and issuance process, transparency,
and the timely review of project documents and information, are crucial to ensure projects are
developed and sufficient numbers of offsets are issued to meet market demand.