Rice Cultivation Project Protocol Version 1.0 was adopted by the Reserve Board on December 14, 2011

Errata and clarifications released for U.S. and Article 5 Ozone Depleting Substances Project Protocols

New offset standard opens doors for rice farmers to participate in carbon markets

The Climate Action Reserve adopts first rice cultivation guidelines for GHG offset projects

SACRAMENTO, CA – The Climate Action Reserve, North America’s largest and fastest growing carbon offset registry, adopted the first version of its Rice Cultivation Project Protocol today in a move that creates opportunities for California rice farmers to participate in carbon markets and to also become involved in California’s groundbreaking cap-and-trade program. State officials have indicated agriculture protocols, such as the Rice Cultivation Project Protocol, are the next standards they may look at adopting into the state’s compliance market. That will open the door for rice farmers to sell their earned carbon offsets to California companies that are required by law to reduce their greenhouse gas (GHG) emissions.

The State of California and the global community have identified cropland agriculture as having the potential to reduce significant amounts of greenhouse gases from being emitted into the atmosphere. We are very pleased to adopt the Rice Cultivation Project Protocol and provide a tool for farmers to get incentives to reduce emissions,” said Linda Adams, Chair of the Climate Action Reserve Board of Directors.

The Rice Cultivation Project Protocol provides a clear standard for how to reduce GHG emissions by changing water and residue management practices in rice farming and how these reductions can be measured and rewarded with offset credits.

The protocol also represents several firsts for the Reserve. It is the organization’s first cropland agriculture protocol and the first to use a bio-geo-chemical model, which emulates soil processes. It is also the Reserve’s first protocol to provide guidelines for individual farmers to aggregate their lands and work together to develop an offset project. This is intended to make the protocol more accessible and flexible for rice farmers.

As with all Reserve protocols, the Rice Cultivation Project Protocol was developed with guidance and input from a diverse group of stakeholders involved in rice farming. Significant contributions were made by the California Rice Commission and the Environmental Defense Fund, who had jointly drafted a previous standard for rice cultivation offset projects.

Agenda and participation details for Board meeting December 14

Draft Rice Cultivation Project Protocol V1.0 to be presented to Reserve Board on December 14

Climate Action Offsetter: CBRE

written by CBRE

Commercial real estate is responsible for approximately 18 percent of U.S. GHG emissions. As the world’s largest commercial real estate services company, CBRE has as much an opportunity as it does an obligation to seek meaningful ways to reduce the environmental footprint of both our company and our industry. Our corporate carbon neutrality commitment, under which we strive to both reduce our emissions and mitigate those that are unavoidable, is one way we go about meeting our environmental goals and responsibilities.

In 2010, CBRE became our industry’s first carbon neutral company and the second ever to earn certification of carbon neutrality under the Australian Government’s National Carbon Offset Standard. To earn these distinctions, CBRE implemented rigorous carbon mitigation programs, including green leasing standards and sustainable operation protocols, and retired high quality carbon offset after a process of audits, part of which included diligent selection of carbon offset projects and standards.

The Climate Action Reserve provides some of the highest quality carbon offsets projects in the world. The Reserve is credible and also provides a selection of project types that CBRE was excited to support. The Reserve’s domestic focus also gave us a means to make investments in local projects and economies, and participate in the system that will underpin the meaningful work of AB 32 in setting up California’s cap and trade system.

CBRE purchased and retired offsets from several socially responsible projects in communities we serve, including the Davis Landfill Gas Offset Project, a methane capture and destruction project in Layton, Ohio; Sioux Falls Regional Sanitary Landfill in Minnehaha County, South Dakota; and the Denton Landfill Gas Destruction Project in Denton, Texas. Reducing emissions from landfills is an important objective of our company, and we have innovative policies to reduce and recycle construction waste to further support the greening of landfills. And as a commercial real estate services firm that supports the use of green building materials, we also support forest preservation efforts. We are proud to include the Garcia River Forest, a conservation-based forest management project that increases sequestration and storage of carbon in Mendocino County, California, in our portfolio of offsets to achieve carbon neutrality.

Spanish translation of draft Mexico Forest Protocol now available – public comments due January 20

New policy for project start date and initiation of reporting

Reserve Featured at COP17 Events

Linda Adams, Chair of the Reserve Board of Directors, and Derik Broekhoff, VP Policy, will be speaking at several COP 17 side events in Durban, including two official UN side events and a session in the U.S. Center.

Friday, December 2
6:30 pm – 8:00 pm
Blyde River Room, Durban ICC

Official UN side event – Effective Trading Systems to Facilitate Linking and Complement Multilateral Actions: A discussion of national and state government trading scheme designs and their potential for linking.

In the absence of a single international market, state and national governments are taking the lead in developing emissions trading schemes around the world with unique design features that create complexity for linkages. In a cross-cutting panel discussion, panelists from NGOs, governments, and the private sector will examine how these various programs have addressed caps and allowance allocation issues, the role of offsets, and REDD as potential areas of both divergence and congruity. Topics will include possible strategies to implement effective trading systems that facilitate linking and complement broader multilateral action.

Hosted by the Climate Action Reserve and Environmental Defense Fund

Tuesday, December 6
3:30 pm – 4:45 pm
Standard Bank, Auditorium

Three Dimensional Chess: Advancing REDD+ in Mexico

California is contemplating the crediting of reduced emissions from deforestation and degradation (REDD+) in other countries, including Mexico, as part of its recently adopted cap-and-trade program. REDD+ initiatives aim to create value for the effective conservation of forests by addressing the fundamental economic and social drivers of deforestation and degradation. To do so, successful REDD+ initiatives will require coordinated action from multiple actors responsible for the health of forests including national and sub-national governments as well as private land owners and indigenous peoples. The Climate Action Reserve will highlight efforts being undertaken at multiple levels in Mexico to design REDD+ programs linked to the California carbon market and beyond.

Moderator: Derik Broekhoff, Vice President of Policy, Climate Action Reserve

Speakers:

Christoph Neitzel, PhD Candidate at the Faculty of Economics, UNAM
Jose Carlos Fernandez, Head of the International Affairs and Financial Development Unit, CONAFOR
Michelle Passero, Senior Climate Policy Advisor, The Nature Conservancy

Wednesday, December 7
10:15 am – 11:30 am
Standard Bank, Board Room

The World’s Second Largest Carbon Market: California and the North American Regional Program

Amidst stalemate and inaction in Washington, North America’s regional markets are coming into their own. California–the world’s 7th largest economy–is on track to launch the world’s second largest carbon market in 2012, with the first full compliance year in 2013. The potential addition of British Columbia, Ontario, and Quebec would not only form North America’s first international carbon market, known as the Western Climate Initiative (WCI), but also provide critical liquidity. The Northeast and Mid-Atlantic States of the Regional Greenhouse Gas

Initiative (RGGI) are currently reviewing the program and considering tightening the cap, which could correct the current over-supply problem. This session will explore the latest developments in North America’s growing regional markets.

Moderator: David Hunter, US Director, IETA

Speakers:

Mary Nichols, Chair, California Air Resources Board
Linda Adams, Chairman of the Board, Climate Action Reserve and Founding President, R20-Regions of Climate Action
Jelena Semjanovic, Senior Analyst, Point Carbon
Nikki Roy, Vice President for Strategic Outreach, Center for Climate and Energy Solutions (C2ES)

Thursday, December 8
3:00 pm – 4:30 pm
U.S. Center

The federal government and state and regional agencies and organizations are continuing to move forward on a sensible path to address greenhouse gas emissions in the United States. The U.S. domestic climate change side event will highlight domestic regulatory, programmatic, and voluntary activities (in place and planned) that are occurring at the federal, regional and state level and by NGOs. We will showcase a set of key actions and activities, including the light-duty vehicle greenhouse gas rule, the medium and heavy greenhouse gas rule, the greenhouse gas mandatory reporting rule, GHG permitting, and the renewable fuel standard. We will also highlight activities coming out of California (the California Air Resources Board and the Climate Action Reserve) and by The Climate Registry.

Thursday, December 8
4:45 pm – 6:15 pm
DEC, Hex River

Official UN side event – Understanding the impact of GHG mitigation activities

Companies and all levels of government want to understand the real impact of GHG reduction actions. Leaders from the public and private sectors share examples of actions they are taking to mitigate GHG emissions, highlight tools needed to quantify these, and provide perspectives on priorities for making the greatest impact.

Moderators:

David Rosenheim, Executive Director, The Climate Registry
Misti Duvall, National Association of Clean Air Agencies (NACAA)

Speakers:

Linda Adams, President, R20
Dr. Thomas Becker, Vice President for Government Affairs, BMW
Larry Greene, National Association of Clean Air Agencies (NACAA)
Minister Terry Lake, Minister of Environment, Government of British Columbia
Mary Nichols, Chairman, California Air Resources Board

Errata and Clarifications released for the Article 5 ODS Project Protocol Version 1.0 and U.S. Landfill Version 2.1