ClimateCare wins Best Offset Retailer in Environmental Finance survey
ClimateCare has been voted Best Offset Retailer by the readers of Environmental Finance magazine. The award, announced yesterday, was one of three awards won by J.P. Morgan’s voluntary markets team, out of a total eight categories in Environmental Finance’s survey of the voluntary carbon markets.
Alongside Best Offset Retailer, J.P. Morgan was voted Best Trading Company and, with the recent acquisition of EcoSecurities, has also won Best Project Developer. More than 500 votes were received in the survey which, for the first time this year, was conducted separately from Environmental Finance and Carbon Finance’s annual market survey, polling readers on mandatory carbon markets, renewable energy finance, weather risk management, and sulphur and nitrogen oxides allowance markets.
Edward Hanrahan, Executive Director of ClimateCare, welcomed the award as "valuable recognition from industry and clients of the market-leading emission reduction service ClimateCare provides. As a group, J.P. Morgan’s voluntary markets team will continue to establish best practice in carbon offsetting, raising the bar on transparency and bringing the highest quality offset products to our clients."
Mark Nicholls, editor of Environmental Finance magazine, commented, "J.P. Morgan has certainly built a strong franchise in the voluntary carbon space with its acquisitions of ClimateCare in 2008 and, last November, of EcoSecurities."
Environmental Finance defines 'voluntary carbon' as carbon credits bought or sold to help organisations or individuals offset carbon emissions where they are not required by regulation to do so. This may be to help meet self-imposed emissions goals, or to gain experience ahead of carbon regulations; an important part of the voluntary carbon market in the United States.
Brian Mullis, from ClimateCare's client Sustainable Travel International, reiterated their company's support, saying "We always say we only work with the best of the best. Your track record certainly backs that statement!"
Continued increasing transparency in project information
ClimateCare has been recognised for many years as the leader in transparency when it comes to emission reduction project information availability. In our promise to customers to maintain this level of openness, you can now find even greater information available online for each of our project portfolios since 2006.
Carbon offset registries are now making retired emission reductions publicly available, and as such we include links out to these registries where you can view the tonnes of reduction you have helped to fund. To take just one example from our current portfolio, the Argentinean biomass project currently operates to the Voluntary Carbon Standard (VCS) and is registered on the VCS’ APX Registry. As a result you can view information on this project including validation and verification reports (when available) and the specific independent verification body involved in verifying that project.
APX Registry snapshot: Argentina Biomass
Explaining Vintages
Another project element available for viewing online is the 'expected vintage' of each project in the portfolio. We thought we’d offer a brief explanation of how the project vintage works.
The 'vintage' is the year in which the actual VERs (the carbon offset credits arising from a project reducing emissions) occur. Depending upon the performance of each project, the vintage in which emission reductions are delivered may be either a slightly earlier or slightly later year than that predicted. This is the reason for using 'Expected vintage' against each project.
To guard against the further risk of under-delivery, we model projects through our systems and adjust down all the volumes expected from our projects based on a wide number of different criteria including similar projects' performance in the past. This means we reserve a proportion of the VERs we expect to achieve from any project and do not sell these VERs until delivery finally occurs. Ultimately, in the event of any shortfall arising from a project, ClimateCare will satisfy its obligations in respect of the shortfall by retiring the same volume of VERs from similar project(s) of comparable quality and standard.
We will continue to keep project information up to date on our website to ensure our customers can see the progress of the projects they helped to fund. For example, all six projects making up last year's portfolio can be viewed online along with their total emission reductions (ERs), registries and current carbon status (whether or not they have been verified and issued).
Green Alliance sets out a clear vision for Britain’s low carbon economy
Earlier this week the influential environmental think tank Green Alliance released a report showing that making progress towards low carbon in the UK could also decrease national debt. The report, commissioned by WWF-UK, Greenpeace and the RSPB, suggests that £12 billion could be cut through a combination of spending cuts and abolition of tax allowances (in sectors currently supporting growth in carbon emissions).
WWF-UK Head of Campaigns, David Norman, hailed the report as "a grown up response" to the hole in the country's finances and the resulting pressure that will inevitably be seen on proposed environmental measures. He commented that the report "demonstrates that with a clear vision and sense of purpose the UK can move toward a low-carbon economy without profligate spending. Not to do so would cost us too much in the long run."
Image: Shutterstock
- a two year moratorium on road expansion, saving £2.4bn over two years;
- the roads budget could be cut by a further £2.8bn once the appraisal methodology was reformed;
- abolishing allowances against Petroleum Revenue Tax and the Climate Change Levy could save £2.9bn;
- abolishing zero-rating of VAT for aircraft and ships could save £2.2bn.
- reducing public sector energy and fuel consumption might save £1.5bn over four years, especially if the Ministry of Defence can also cut some of the costs of the logistics of transporting and protecting its fuel supplies;
Dr Doug Parr, Greenpeace Chief Scientist, called on major political parties to take the report seriously given its potential impact on both cutting the UK deficit and national carbon emissions, saying "they would be reckless to ignore this new report". He continued, "We’ve got to stop handing out millions in tax breaks to the airline industry and approving roads instead of cleaner alternatives. Britain can be a world leader in renewable technologies and low carbon transport, but only if we stop bailing out the dirty industries of the 20th century."
Report producers, Green Alliance, are a London-based environmental think tank working to ensure UK political leaders deliver ambitious solutions to global environmental issues. Their activities include research, advocacy and convening high-profile events with senior politicians and key influencers.
ClimateCare chosen as one of 10 carbon offset suppliers for Offsetting Facility
J.P. Morgan ClimateCare has been named as one of a list of approved carbon offset suppliers announced early this year by the UK Government as part of its second phase Carbon Offsetting Facility (GCOF II). The Facility will offset emissions resulting from Government air travel and potentially other emissions created by public sector organisations. The offsetting will cover emissions generated between April 2009 and March 2012, with a possible extension to March 2013.
"Offsetting has a legitimate role to play in managing emissions..."
Joan Ruddock,
Department for Energy and Climate Change
Joan Ruddock, Minister of State at the Department for Energy and Climate Change (DECC) said, "offsetting has a legitimate role to play in managing emissions where they cannot be avoided or reduced. [The launch] of the second phase of GCOF shows that Government is committed to addressing its carbon impact where emissions from air travel are a consequence of carrying out essential Government business."
The Government is recognising the actions required to help combat climate change, urging the public, businesses and the public sector to take action on their carbon footprint. GCOF II is a framework agreement operated by the UK Government's procurement agency, Buying Solutions, with 10 suppliers including ClimateCare. Buying Solutions intends to conduct quarterly e-auctions for CER (compliance market) credits requested by participating public sector organisations.
Through contributions from TUI Travel's World Care Fund, ClimateCare began its support of the Zengamina hydro power project in 2007, a renewable project operating to a Gold Standard methodology. Two years on, a report from the project shows great successes in the region, from emissions savings to bolstered local employment and communities benefiting from improved access to reliable energy.
Background to the project
Historically, Zambia has focused on large hydroelectricity developments dominated by the government. Prior to 2001 the law did not permit private companies to participate in the industry. Studies had been conducted in the past to construct a hydro scheme in Mwinilunga, but a lack of funds meant no developments took place.
This project involves the development of a 700KW mini-hydro scheme at a site known historically as the Zambezi Rapids. It is a first of its kind, replacing existing diesel generators and providing electricity to previously unserved areas.
The scheme is a 'run of the river' concept which will not store water upstream of the weir. The purpose of the civil infrastructure is to deliver water from the Zambezi River upstream of the rapids, via a canal, to a large diameter penstock conduit to the turbine.
In providing electricity to this remote part of Zambia, the project reduces community dependency on diesel generators and creates a reliable power supply at reasonable cost.
Project progress
- Between October 2008 and March 2009 grid expansion occurred, with local installers ZPL reinstalling and adding a total of 30.9km of High Voltage (HV) lines and transformers at Sahandu and Sakeji Schools and Hillwood Farm.
- In April 2009 work began on the installation of transformers and Medium Voltage (MV) feeder lines into the Nyakaseya and Nkemba areas.
- May 2009 saw the start of work on the transformer and MV feeder lines in Ikelenge.
- Today nearly 150 customer connections have been made, most of which are residential, but they also include Hillwood Farm, a number of schools, the Ikelenge Deaf Unit, Kalene Hospital, hammer mills and other small businesses.
The site in April 2008
The site one year later in April 2009
Saving lives at Kalene Hospital
From the outset, one of the greatest benefits of the Zengamina Hydro project was the provision of a reliable source of electricity to the community. As well as enabling greater computer access for children in the local schools, the community’s Kalene Hospital would benefit greatly; continuous electricity supply has replaced 3-hour periods of expensive, diesel-generated energy, allowing operations to be undertaken at all times of the day and night if necessary.
 In our recent project report, the Head Nurse at Kalene Mission Hospital maternity unit said, "The power is saving the lives of premature babies at Kalene. We have had approximately a dozen premature babies needing these facilities in the last month. In theatre they are now able to use the general anaesthetic equipment and carry out major life-saving surgery. Previously only local anaesthetics and ketamine were available."Local success stories
 ZPL employs 10 people from the local area on a permanent, full-time basis, including technicians, linesmen, drivers, store keepers and watchmen. These workers also man the hydro facility and perform any emergency maintenance on the HV and MV grids. There are currently 4 additional part-time community representatives employed to assist in payment collection and community engagement. Related project employment is required for work such as assisting in erection of new MV and HV lines and maintenance of the canal and weir. It is estimated that in 2009 ZPL employed part-time labour in excess of 25,000 man hours.As well as an increase in local employment, new business enterprises have been made possible, taking advantage of the new electricity supply. One of these (pictured) is a new hammer mill business in Ikelenge, one of two new mills to be built as a result of the project. The knock-on effect of the mill’s arrival is a rise in maize production which previously could not be easily milled.
Main image: Gareth Bentley
important contribution to help to fund our valuable projects.
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