Handbook of Carbon Offset Programs

by Kollmuss, Anja; Lazarus, Michael; Lee, Carrie; Lefranc, Maurice; Polycarp, Clifford

• ISBN13: 9781844079292
• ISBN10: 1844079295
• Format: Hardcover
• Copyright: 2010-05-31
• Publisher: Routledge

Summary

Greenhouse gas (GHG) offsets have long been promoted as an important element of a comprehensive climate policy approach. Offset programs can reduce the overall cost of achieving a given emission goal by enabling emission reductions to occur where costs are lower. Offsets have the potential to deliver sustainability co-benefits, through technology development and transfer. They can also develop human and institutional capacity for reducing emissions in sectors and locations not included in a cap and trade or a mandatory government policy. However, offsets can pose a risk to the environmental integrity of climate actions, especially if issues surrounding additionality, permanence, leakage, quantification and verification are not adequately addressed. The challenge is to design offset programs and policies that can maximize their potential benefits while minimizing their potential risks. This handbook provides a systematic and comprehensive review of existing offset programs. It looks are what offsets are, how offset mechanisms function, and the successes and pitfalls they have encountered. Coverage includes offset programs across the full swath of applications including mandatory and voluntary systems, government regulated and private markets, carbon offset funds, and accounting and reporting protocols such as the WBCSD/WRI GHG Protocol and ISO 14064. Learning from the successes and failures of these programs will be essential to crafting effective climate policy. This is an essential reference for all regulators, policy makers, business leaders and NGOs concerned with the design and operation of GHG offset programs world-wide.

Author Biography

Anja Kollmuss and Carrie Lee work in the Climate and Energy Programme at SEI. Michael Lazarus works in the Climate and Energy Programme at SEI and directs the Seattle office of SEI-US. Maurice LeFranc works for the US Environmental Protection Agency Climate Change Division in the Office of Air and Radiation. Clifford Polycarp is an associate with the Climate and Energy Programme at SEI.

Table of Contents

List of Figures, Tables and Boxes	p. vii
Acknowledgements	p. ix
List of Acronyms and Abbreviations	p. xi
Introduction to Carbon Offsetting	p. 1
What role can carbon offsets play in meeting this profound challenge?	p. 1
The challenge for policy makers is clear: To design offset programs and policies that can maximize their potential benefits while minimizing their potential risks	p. 2
Analysis of experience with current offset markets and standards can offer important insights and lessons for participants and designers of offset programs	p. 2
Recent trends	p. 3
A Comparison of Offset programs	p. 5
General features of offset programs	p. 5
Market size and scope	p. 10
Offset project eligibility	p. 20
Additionality and quantification procedures	p. 23
Program administration and authority	p. 39
International Offset Mechanisms	p. 47
Clean Development Mechanism	p. 47
Joint Implementation	p. 59
Offset Features of Cap-and-Trade Systems	p. 67
European Union Emission Trading System	p. 67
Regional Greenhouse Gas Initiative	p. 73
Western Climate Initiative	p. 80
Midwest Greenhouse Gas Reduction Accord	p. 83
Canada's Offset System for Greenhouse Gases	p. 87
Australian Carbon Pollution Reduction Scheme	p. 92
New South Wales Greenhouse Gas Reduction Scheme	p. 95
Chicago Climate Exchange	p. 103
Offset Features of Other GHG Reduction Programs	p. 109
Alberta-Based Offset Credit System	p. 110
State Power Plant Rules of Oregon, Washington and Massachusetts	p. 115
British Columbia Emission Offsets Regulation	p. 122
EPA Climate Leaders	p. 126
Greenhouse Gas Accounting Protocols	p. 131
The World Business Council for Sustainable Development/World Resources Institute (WBCSD/WRI) Greenhouse Gas Protocol for Project Accounting	p. 131
The International Organization for Standardization (ISO) Standard 14064 Part 2	p. 135
Voluntary Offset Standards	p. 141
Climate Action Reserve	p. 142
Gold Standard	p. 148
Voluntary Carbon Standard 2007	p. 156
VER+ (VERplus)	p. 164
American Carbon Registry	p. 169
Climate, Community and Biodiversity Standards	p. 173
Plan Vivo	p. 180
Social Carbon Methodology	p. 186
Green-e Climate Protocol for Renewable Energy	p. 191
Green-e Climate Program	p. 197
Carbon Offset Funds	p. 207
World Bank Carbon Finance	p. 207
Glossary	p. 213
References	p. 225
Index	p. 237
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