BOYERTOWN, Pa., Dec. 16, 2013 /PRNewswire/ -- ClimeCo Corporation (ClimeCo) has entered into an agreement for the sale of greenhouse gas (GHG) offset credits under California's cap-and-trade program.
The transaction provides Pacific Gas and Electric Company (PG&E) with offset credits guaranteed to meet California's stringent environmental requirements, from ClimeCo's portfolio of compliance products.
"ClimeCo provides the technical expertise, portfolio diversity and credit support needed to meet the requirements of large compliance buyers such as PG&E," stated ClimeCo CEO, Bill Flederbach.
The offset credits represent GHG emissions reductions from conservation-based forest management, destruction of ozone-depleting substances, and livestock waste methane capture and destruction. All credits represent reductions within the United States, and have been rigorously verified by a 3rd party and issued by the Air Resources Board under California's Global Warming Solutions Act of 2006 (Assembly Bill 32).
The purpose of AB-32's market-based cap-and-trade program is to encourage cost-effective GHG emissions reductions. Offsets are tradable credits that represent verified GHG emission reductions in sectors and sources not covered under the cap, providing additional supply of reductions that helps lower the overall cost of compliance for California consumers. Entities may use offset credits for up to 8% of their compliance obligation under cap-and-trade.
ClimeCo Corporation is a respected advisor and trader of environmental commodity market products. ClimeCo has specialized expertise in California cap-and-trade and voluntary market advisory and transactional services and project financing of internal CO2 abatement systems. Within the Climate Action Reserve, ClimeCo is the largest producer of U.S. voluntary carbon credits, managing projects that generate in excess of 3 million credits per year. Contact Cynthia Jackson, Public Relations @ 484- 415-0501 or email@example.com.
SOURCE ClimeCo Corporation