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Weisberg 2011 biocycle

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  • To date: Provided financing of $11M18 projects, 10 typesCompliance programs in Oregon, Washington, Montana & Massachusetts. 12 staff, operating budget of $1.6M, 95% from servicesProblem: 1) Private sector funding for innovations has dried up because of slow climate policy and financial crisis. 2) However we can’t delay significant solutions that await!
  • Accounts for verification costs
  • Accounts for verification costs
  • Transcript

    • 1. Value of Carbon Offsets from Composting and Digester Projects
      Peter Weisberg
      Biocycle Global 2011
      San Diego, CA
      April 6, 2011
    • 2.
    • 3. The Climate Trust
      Provided $11M in financing to carbon projects
      Reduced 2.5 million mtCO2-e
      Offset programs
      First U.S. state-based compliance program – Oregon
      First voluntary state program - Colorado
      First by natural gas-only firm – NW Natural
      3
    • 4. Priority project sectors
      Dairy Digester
      Organic Waste Digestion
      Composting
      Forestry
    • 5. Carbon Offset “Profit”=
      (Offsets)(Price) -(Transaction Costs)
    • 6. Dairy offset revenue- 2,500 cows; digester reduces 8,750 mt CO2e every year
      $ = (Offsets)(Price) – (Transaction Costs)
      Price = $6
      Year 1 Carbon Sales Profit: $10,000
      Year 2-10 Carbon Sales Profit: $40,000
      NPV (10 years, 7%) = $250,000
    • 7. Transaction Costs
      Project Preparation: $20,000 - $50,000 upfront
      Verification: $8,000 - $12,000 annually
      Monitoring equipment: $0 - $15,000 upfront
      Registry fees: $0.23/credit issued
    • 8. Importance of Scale
      Dairy projects need 1,000+ cows
      Organic waste digestion or composting projects need 15,000+ tons of eligible feedstock per year. Eligible:
      Post-consumer food waste
      “Agro-industrial” waste water
    • 9. California’s Carbon Market
      Cap-and-trade system begins in 2012
      Offsets = 8% of compliance
      1st Period (’12-14) – 39 million offsets
      2nd Period (‘15-17) – 92 million offsets
      Air Resource Board approved offsets
      CAR Livestock (Dairy Digesters)
      CAR Forestry
      CAR Ozone Depleting Substances
    • 10. California Carbon Market: Supply Currently~2.2 million eligible offsets
    • 11. Carbon Price
      Air Resource Board Approved:
      $7 - $9
      Small transactions, ~25,000 offsets
      Un-Approved:
      $3-6
      Future
      Legal challenges
      More protocols
    • 12. Value of Carbon Credits to Dairy Digester
      2,500 cow digester
      ~3.5 mt CO2e per cow per year
      ~8,750 mt CO2e reduced
    • 13. Value of Carbon Credits to Organic Waste Digester
      40,000 tons of MSW food waste
      ~0.5 mt CO2e per ton of food waste per year
      ~20,000 mt CO2e reduced per year
    • 14. Thank you!
      Peter Weisberg
      Senior Project Analyst
      The Climate Trust
      503-238-1915 x207
      pweisberg@climatetrust.org

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