Carbon Credit Solutions launches carbon bank
March 5, 2014 by Press release
March 5, 2014 – CarbonCredit Solutions (CCSI), involved in the field of carbon credit aggregation, is launching a carbon bank.
The CCSI Carbon Bank allows CCSI’s clients to bank their carbon credits for future sale. Created in response to an anticipated increase in the price of carbon credits in Alberta, this initiative is the only one of its kind in the province’s carbon space, and will allow carbon off-setters to continue to generate carbon credits, but choose when to sell them.
“Regulatory changes in Alberta have reduced our client’s ability to profit from carbon credits and we want to give them the opportunity to maximize the return on their credits” says Alastair Handley, president of CCSI. “Once our client’s credits are registered they can choose to sell their credits immediately or set them aside to be sold at a later date, and if all goes well a much higher price. The carbon bank is the next step in our mission to create value for our clients.”
The carbon bank is a non-interest bearing trust account for carbon credits. The bank will hold credits until the price goes up, then it will sell the credits at the higher value, providing the off-setter with more money for their credits. This is an advantage for farmers, renewable energy producers, and companies committed to reducing their energy efficiency as carbon prices are set to rise in the next 12 to 24 months following the Government of Alberta’s 40/40 proposal. The 40/40 proposal requires major carbon emitters to reduce per-barrel emissions by 40 per cent and a $40-per-tonne payment should they exceed the limit. Currently, large final emitters that purchase carbon credits are holding on to them in anticipation of the price increase. Through the carbon bank, CCSI aims to give clients that supply credits the same opportunity to benefit from this market.
CCSI produces credits for clients that have taken action to reduce greenhouse gases by decreasing emissions or by removing them from the atmosphere. Credits are generated using methodologies that have been approved by Alberta Environment and must meet stringent standards that are set by the government. Project developers like CCSI usually sell credits as soon as they are produced and their clients aren’t given the opportunity to sell them at a higher price.
The carbon bank is available to all of CCSI’s clients, including farmers, independent producers of renewable energy as well as companies and individuals that are implementing energy efficiency measures to reduce GHG emissions.