Offsets vs. RECs: What’s the Difference and How Should Each Be Used?

Offsets vs. RECs: What’s the Difference and How Should Each Be Used?

Originally aired May 24, 2012. Matt Clouse, Director, Renewable Energy Policies & Programs, U.S. Environmental Protection Agency (EPA); and Mary Sotos, GHG Protocol Initiative, World Resources Institute (WRI), will join CRS in presenting a webinar providing answers to questions about the difference between Renewable Energy Certificates (RECs) and carbon offsets, how the markets for these commodities interact, and the extent to which each can be used to address greenhouse gas (GHG) emissions. The webinar will examine key areas of confusion including REC definitions, additionality, and ownership of reductions from renewable energy.

Transcript

  1. Off t REC Offsets vs. RECs: What’s the difference and

    how should each be used? May 24, 2012 What s the difference and how should each be used?
  2. Featured Speakers Featured Speakers Matt Clouse Director Renewable Energy Policies

    & Programs Mary Sotos GHG Protocol Initiative Renewable Energy Policies & Programs
  3. None
  4. • •

  5. Organization of Presentations Organization of Presentations Introduction Todd Jones A

    Brief Introduction to Offsets Matt Clouse RECs and Offsets: Highlighting Distinct Roles Mary Sotos Mary Sotos GHG Accounting and the difference between RECs and Offsets Todd Jones A broad analogy how RECs relate to offsets; honing in on additionality Conclusions Q&A Q&A
  6. Offsets Basics Offsets Basics

  7. Types of Carbon Markets yp Compliance Voluntary Emissions 1 C

    d t d 2 Voluntary Cap‐ (allowances) Cap‐and‐trade y p and‐trade Emissions 3 4 Reductions (offsets) Compliance Offsets Offsets Types of Renewable Energy Markets Compliance Voluntary Renewable Energy Generation 1 RPS/RES 2 RECs, Green Power
  8. None
  9. + + - - Emissions Emissions Reductions Reductions

  10. scopes scopes p p 1 1 2 2 3 3

  11. projects projects

  12. Path of Emissions Reductions in the Retail Market Quality Criteria

    1. Project in the Retail Market Additional Quality Criteria 2. Reduction Permanent 2. Reduction 3 C dit Permanent Verified Real E f bl Overall Q lit 3. Credit Enforceable PAVER Quality = A PROVED 4 . Offset Ownership 5. End-use Consumer Disclosure
  13. Featured Speaker Matt Clouse Director Renewable Energy Policies & Programs

  14. RECs and Offsets: RECs and Offsets: Highlighting Distinct Roles Highlighting

    Distinct Roles Highlighting Distinct Roles Highlighting Distinct Roles Center for Resource Solutions Webinar May 24, 2012
  15. EPA’s Green Power Partnership EPA’s Green Power Partnership  The

    Partnership: p p The Partnership: • Works to increase organizational demand for renewable electricity • Reduces transaction costs and increases the value proposition E i i d b i bl l i i • Engages organizations and business sectors to use renewable electricity or expand their usage  1,400 Partners are using 23 Million MWh of green power a year  Partnership offerings: • Trusted market information Credible purchase requirements • Credible purchase requirements • EPA recognition 2
  16. REC Basics REC Basics  Renewable energy certificates (RECs) are

    tradable commodities gy f ( ) produced by renewable electricity facilities • One REC = one megawatt hour (MWh) of renewable energy generation Attributes include the energy resource type generation technology • Attributes include the energy resource type, generation technology, generator age and location, time of generation, emissions, and eligibility to meet various program requirements REC i t l t ll bl ti d th b i  RECs are integral to all renewable generation and are the basis for claims about renewable energy • Can be formally recognized by bilateral contracts or an issuing body (tracking system) • Can be sold with the electricity (bundled), sold separately from the electricity (unbundled), or sold with commodity electricity (bundled) 3
  17. How RECs Help How RECs Help p p  RECs

    monetize the value of renewable electricity’s attributes y separately from commodity electricity  RECs help address several barriers to renewable electricity d l t b development by: • Providing an additional revenue stream • Bypassing problems of intermittency and load matching  Remove geographic boundaries and avoid the costs of “wheeling” power • Lowering transaction costs; offering flexibility; and, providing liquidity • Creating a national voluntary market Creating a national voluntary market  Facilitating customer choice  Lowering green power premiums 4
  18. REC Pathway and Prices REC Pathway and Prices y y

     RECs pathways are often p y distinct from contractual pathways for electricity P i b d  Prices are based more on supply and demand than on the difference between project costs and other revenue components  REC value is based on  REC value is based on exclusive ownership Note: The graphic does not present a comprehensive view of all the possible ways a REC can be traded and used
  19. REC Demand and Tracking REC Demand and Tracking REC Demand

    and Tracking REC Demand and Tracking REC Markets Tracking Systems  Two market types • State compliance (29 states plus D C and Puerto Rico) g y plus D.C. and Puerto Rico) • Voluntary (Nation‐wide)  Tracking simplifies verification  Third‐party certification helps establish the value helps establish the value and builds confidence Note: Nevada uses both WREGIS and NVTREC Source: Heeter and Bird (NREL), 2011 updated from ETNNA 6
  20. Voluntary Market Voluntary Market y y  Organizations and individuals

    choosing to support g g pp environmentally‐differentiated electricity • Additional to state RPS mandates Products must offer real significant value and be credible verifiable • Products must offer real, significant value and be credible, verifiable  More significant than most people realize • Supported 35 billion kWh of new renewables in 2010 • Equal to nearly 1% of total U.S. electricity sales • Estimated market value of between $168 million and $285 million (green power premiums) in 2010 p p )  Growing at avg. annual rate of 31%, 2006‐2010 • Green Power Partnership is a significant reason for that growth 7
  21. RECs and Offsets RECs and Offsets RECs might be confused

    with ff t b t RECs are not Their differences prevent them from being used offsets but … offsets from being used interchangeably 8
  22. Basic Comparison Basic Comparison Basic Comparison Basic Comparison RECs Offsets

     Denominated in MWh  Denominated in MT of CO2e Both are useful in achieving an organization’s net GHG reduction goals  Denominated in MWh  RECs can be used to reduce i i i 2 f  Denominated in MT of CO2e  Offsets are typically used to ff t i i i 1 2 emissions in scope 2 from purchased electricity GHG l i t i t offset emissions in scope 1, 2, or 3 GHG l i t i t GHG  GHG claims pertain to purchased electricity only  GHG claims pertain to GHG reductions achieved by the offset project 9
  23. Corporate GHG Accounting Corporate GHG Accounting RECs and Offsets RECs

    and Offsets RECs and Offsets RECs and Offsets Applicabilit Scope Description Applicability Claims RECs Offsets Scope 1 (Direct Emissions) Emissions from sources that the organization owns or controls, such as industrial processes, natural gas consumption in buildings owned No Yes Offsets: GHG emission reductions; offset of (Direct Emissions) natural gas consumption in buildings, owned vehicles, and owned energy generators entity’s direct emissions Scope 2 Emissions associated with the generation of electricity, steam, or heat—from sources that Only emissions from Yes RECs: Indirect emissions reductions Offsets: GHG emission (Indirect Emissions) the organization does not own—that is purchased and consumed by the organization from purchased electricity Yes Offsets: GHG emission reductions; offset of entity’s indirect emissions S 3 Emissions from other sources the organization does not own or control; examples include Offsets: GHG emission d ti ff t f Scope 3 (Indirect Emissions) does not own or control; examples include waste disposal, lease/outsourced activities, business travel, and employee commuting No Yes reductions; offset of entity’s indirect emissions 10
  24. Role of RECs in GHG Accounting Role of RECs in

    GHG Accounting g g  New renewable electricity generation affects power sector y g p operating and build margins, which lowers GHG emissions • Renewable electricity‐related GHG reductions for fossil‐fueled generators are the fossil‐fueled generators’ scope 1 reductions generators are the fossil fueled generators scope 1 reductions  In reducing an organization’s net GHGs, RECs are limited to reducing scope 2 GHG emissions from purchased electricity • Claiming scope 1 reductions based on a REC purchase is not appropriate and would be double‐counting 11
  25. Internal and External Projects Internal and External Projects j j

    Internal projects—within organizational or operational boundaries—are an important p j g p p means to achieving cost‐effective GHG reductions • Note: on‐site renewable electricity generation typically reduces demand for electricity from the grid and the associated GHG emissions in scope 2 when the RECs are kept and retired External projects are an option too • Offsets are used by some organizations to offset GHG emissions in scope 1, 2, or 3 REC b dl d i h l i i b dl d f l d • RECs, bundled with electricity or unbundled from an external source, are a way to reduce scope 2 GHG emissions associated with purchased electricity External projects can be more cost‐effective • Offsets can be less costly near‐term than employing internal projects to reduce GHG emissions • RECs can be less costly due to the economies of scale that come with larger, utility‐scale projects and the ability to site projects in locations with higher quality renewable energy resources 12
  26. Take Away Messages Take Away Messages y g y g

    RECs and Offsets … RECs and Offsets …  Useful in GHG inventories and achieving net GHG goals  Different instruments with different purposes • Offsets typically used to offset GHG emissions in scope 1, 2, or 3 • RECs purchased from off‐site projects reduce scope 2 emissions from purchased electricity purchased electricity • On‐site renewable electricity projects reduce demand for electricity from the grid and scope 2 emissions when the RECs are kept and retired  Marketing claims are distinct because:  Marketing claims are distinct because: • Offsets represent 1 metric ton of reduced or avoided CO2e emissions • RECs represent 1 MWh of renewable electricity generated 13
  27. Contact Information Contact Information Matt Clouse Director, Renewable Energy Policies

    & Programs Climate Protection Partnership Division U S Environmental Protection Agency U.S. Environmental Protection Agency email: clouse.matt@epa.gov phone: + 1 (202) 343 9004 phone: + 1 (202) 343-9004 web site: www.epa.gov/greenpower 14
  28. Featured Speaker Mary Sotos GHG Protocol Initiative

  29. Overview of the GHG Protocol: accounting distinctions between RECs and

    offsets M S t Mary Sotos CRS webinar May 24 2012 www.ghgprotocol.org May 24, 2012
  30. 1. Intro to GHG Protocol Outline 2. Current GHG Protocol

    accounting procedures for renewable energy and offsets 3. Conceptual/accounting confusion between energy purchases and offsets 4 Development of GHG Protocol Guidelines 4. Development of GHG Protocol Guidelines 5. Conclusion www.ghgprotocol.org
  31. 1. Intro to GHG Protocol Outline 2. Current GHG Protocol

    accounting procedures for renewable energy and offsets 3. Conceptual/accounting confusion between energy purchases and offsets 4 Development of GHG Protocol Guidelines 4. Development of GHG Protocol Guidelines 5. Conclusion www.ghgprotocol.org
  32. The journey so far www.ghgprotocol.org

  33. Widespread adoption of Corporate Standard The Canadian GHG The Canadian

    GHG Challenge Registry Th Cli t R i t European Union GHG Emission Trading System (EU ETS) The Climate Registry US EPA Climate Leaders Japan’s Voluntary Emissions Trading China iCET Climate and Energy Registry Leaders Scheme (JVETS) Israel GHG Program South Korea’s GHG Emission Information System (GEIS) Australia GHG Challenge Plus Program New Zealand CarboN www.ghgprotocol.org New Zealand CarboN Zero Programme
  34. 1. Intro to GHG Protocol Outline 2. Current GHG Protocol

    accounting procedures for renewable energy and offsets 3. Conceptual/accounting confusion between energy purchases and offsets 4 Development of GHG Protocol Guidelines 4. Development of GHG Protocol Guidelines 5. Conclusion www.ghgprotocol.org
  35. www.ghgprotocol.org

  36. Scope 2 Total = Consumption X Generation-Only Emission Factor of

    Consumed or Purchased Electricity Efficiency Factor may change due to no personal efforts of consumers Purchase and Conservation Install Onsite RE to d id h personal efforts of consumers Change the GHG-intensity of the product you’re apply an offset credit to reduce any scope’s reduce grid purchase (any emissions from owned/operated become scope 1) consuming p emissions www.ghgprotocol.org
  37. Renewable Energy Purchases Renewable Energy Purchases A means to switch

    source of energy and scope 2 emission factor “To quantify scope 2 emissions, the GHG Protocol Corporate Standard recommends that companies obtain source/supplier specific emission factors for the electricity purchased If companies obtain source/supplier specific emission factors for the electricity purchased. If these are not available, regional or grid emission factors should be used.” (Appendix A, Accounting for Indirect Emissions from Purchased Electricity, p. 86) “Additionally, emerging green power markets provide opportunities for some companies to switch to less GHG intensive sources of electricity” (Chapter 4, Setting Operational Boundaries, p. 27) “IBM succeeded in reducing its GHG emissions at its facility in Austin, Texas, even as energy use stayed relatively constant, through a contract for renewable electricity with the local utility company, Austin Energy. Starting in 2001, this five-year contract is for 5.25 million kWhs of wind-power per year This zero emission power lowered the facility’s inventory by more than wind power per year. This zero emission power lowered the facility s inventory by more than 4,100 tonnes of CO2 compared to the previous year and represents nearly 5% of the facility’s total electricity consumption. (Chapter 2, Business Goals and Inventory Design, p. 12) www.ghgprotocol.org
  38. Renewable Energy Purchases Renewable Energy Purchases A means to switch

    source of energy and scope 2 emission factor “REC hi h t th i t l b fit f bl b dl d f th “RECs, which represent the environmental benefits of renewable energy unbundled from the actual flow of electrons, are an innovative method of providing renewable energy to individual customers. RECs represent the unbundled environmental benefits, such as avoided CO2 emissions, generated by producing electricity from renewable rather than fossil Al b h i REC i l t t 100% f th l t i it d ll t sources… Aloca began purchasing RECs equivalent to 100% of the electricity used annually at four corporate offices” (Alcoa side bar case study of US RECs in Chapter 8, Accounting for GHG Reductions, p. 61) • Ambiguous use of language (“offset” as a more generic verb, not in reference to the noun) • Calculation treatment should maintain consistency with other green power y g p instruments referenced, and avoided emissions were noted as information items, but not quantitative reductions actually reported in the inventory www.ghgprotocol.org
  39. Offsets Definition: Discrete GHG reductions used to compensate for (i.e.,

    offset) GHG emissions l h f l t t l t d t GHG t t elsewhere, for example to meet a voluntary or mandatory GHG target or cap. How calculated? Offsets are calculated relative to a baseline that represents a hypothetical i f h t i i ld h b i th b f th j t scenario for what emissions would have been in the absence of the project. What is required? Cl l ti f b li i d i i - Clear selection of a baseline scenario and emissions - Demonstration of additionality - Identification and quantification of relevant secondary effects - Consideration of reversibility A id f d bl ti - Avoidance of double counting www.ghgprotocol.org
  40. What is additionality and why important? - Project should be

    different from its baseline, but many ways to try to prove this to try to prove this - Critical to the success and integrity of GHG programs that recognize project-based GHG reductions - If the project were going to happen anyway, global emissions will be higher by the number of reduction units issued to the project - Additionality tests inherent in quantification of baseline, but should be accompanied by explicit demonstration of additionality using various “tests” • Legal, Regulatory, or Institutional test • Technology test • Investment test • Common Practice test www.ghgprotocol.org Common Practice test • Timing test
  41. Use of Offsets in Corporate Inventories The GHG Protocol Corporate

    Standard does not: - Make any requirement about setting reduction targets, or types of targets - Require the use of offsets - Establish definitions or requirements for “carbon neutrality” R d ti l b l f i t l d ti ff t h i t hi - Recommend a particular balance of internal reductions vs. offset purchasing to achieve reduction goals It does require: - Report all inventory emissions independently of any offset purchases or sales - Any offsets used meet quality criteria established by the Project Protocol - That offsets are verified/certified and/or approved by an external GHG program T t ti t f j t hi / i ti l i i d h - Transparent reporting on type of project, geographic/organizational origin, and how quantified - Provide information on reductions at sources inside the inventory boundary that have been sold/transferred as offsets to a 3rd party www.ghgprotocol.org
  42. 1. Intro to GHG Protocol Outline 2. Current GHG Protocol

    accounting procedures for renewable energy and offsets 3. Conceptual/accounting confusion between energy purchases and offsets 4 Development of GHG Protocol Guidelines 4. Development of GHG Protocol Guidelines 5. Conclusion www.ghgprotocol.org
  43. Inventory Accounting Mitigation Action Accounting Inventory Accounting Mitigation Action Accounting

    www.ghgprotocol.org
  44. • Cause- Effect assumptions not as tenable with indirect sources

    • If using grid average scope 2 can change due to no action by the company “Reductions” in scope 2 • If using grid average, scope 2 can change due to no action by the company • Conversely, reducing energy use on-site may not have a total change in generators’ scope 1 emissions (i.e., other users’ behavior impacts this) • Historic changes in scope 2 - • If RECs or energy purchasing instruments used as an emission factor in calculating scope 2, then companies’ scope 2 totals may decrease after the switch of emission factors. These changes do not correspond to immediate atmospheric reductions, factors. These changes do not correspond to immediate atmospheric reductions, but rather represent changes in emissions claims on the grid • Growth of RE over time bl l h d d l d h d f h • Renewable energy currently operating on the grid displaced the need for other energy sources to run (typically fossil) • More renewable energy purchasing and demand can increase overall growth of RE development over time, lowering emissions-intensity of electricity supplied www.ghgprotocol.org
  45. 1. Intro to GHG Protocol Outline 2. Current GHG Protocol

    accounting procedures for renewable energy and offsets 3. Conceptual/accounting confusion between energy purchases and offsets 4 Development of GHG Protocol Guidelines 4. Development of GHG Protocol Guidelines 5. Conclusion www.ghgprotocol.org
  46. i. Distinction between renewable energy purchases and offset purchases? Questions

    from stakeholders internationally ii. What instruments can be used to demonstrate a claim to the use of renewable energy and its emission rate? iii. Is there double counting with RECs? – Explicit double counting prevented through tracking in reliable systems – Implicit double counting prevention would require adjustment of numbers from suppliers tracking systems other info sources suppliers, tracking systems, other info sources • Impact in the US calculated to be miniscule at this point iv. Differences in eligibility criteria — Not all instruments worldwide have Green-e’s criteria 1. Regulatory surplus? 2. Public subsidy? 3 Technology type? www.ghgprotocol.org 3. Technology type?
  47. ‐ Washington D.C., US ‐ Dec 2010 – US market

    issues ‐ London, U.K. – Jan 2011 – Primarily focused on UK i issues, some EU ‐ Mexico City, Mexico – May 2011 – Overlap of CDM offsets/contracts Scoping Workshops ‐ 3 work streams – Started Aug 2011, hiatus, start back in Dec 2011 Technical Working Group Drafts and Discussion Public comment ‐ Summer 2012 Public comment 2012 Publication ‐ Fall 2012 www.ghgprotocol.org
  48. STAKEHOLDERS www.ghgprotocol.org

  49. 1. Intro to GHG Protocol Outline 2. Current GHG Protocol

    provisions for renewable energy and offset accounting 3. Points of conceptual/accounting confusion between energy purchases and offsets 4. Need for international harmonization 5 Development of GHG Protocol Guidelines 5. Development of GHG Protocol Guidelines 6. Conclusion www.ghgprotocol.org
  50. Materials to date and summaries of scoping workshops available on

    project website p j http://www.ghgprotocol.org/feature/ghg‐protocol‐power‐ accounting‐guidelines accounting‐guidelines Contact: Mary Sotos @ i mary.sotos@wri.org 202‐729 7627 www.ghgprotocol.org
  51. Fair Trade Fair Trade Coffee: Coffee: A Broad Analogy to

    Explain RECs Explain RECs
  52. None
  53. None
  54. None
  55. None
  56. None
  57. Coffee Store

  58. 15% Renewable 85% Non renewable Non-renewable Your Utility

  59. 15% 15% Fair trade 85% N f i t d

    Non-fair trade Coffee Utility
  60. 100% Fair trade

  61. 100% Renewable

  62. None
  63. None
  64. Fair trade Not fair trade

  65. Fair Trade Coffee Plantation 1 LB FAIR TRADE TRADE 1

    lb coffee 1 certificate
  66. General Mix

  67. Coffee Store 1 LB FAIR TRADE TRADE 1 lb general

    mix 1 certificate
  68. + 1 LB FAIR TRADE = 1 lb general mix

    1 certificate 1 lb fair trade coffee
  69. Renewable Energy Generator REC 1 MWh l t i it

    1 REC 1 MWh electricity 1 REC
  70. The Grid

  71. Electricity Market REC 1 MWh l t i it 1

    REC 1 MWh electricity 1 REC
  72. + REC = 1 REC 1 MWh renewable electricity 1

    MWh system mix electricity IF YOU BUY ELECTRICITY ALREADY, THEN BUYING RECS EQUALS BUYING RENEWABLE ELECTRICITY.
  73. R CS RECS are… “a medium of a medium of

    exchange” exchange for…
  74. “ bl ?” “renewableness?” •How the electricity was made S

    t d f l t i it t ti •Separated from electricity at generation, and recombined with electricity at consumption •All renewable qualities—the fully- All renewable qualities the fully aggregated suite of renewable attributes
  75. “ tt ib t ?” “attributes?” •Physical, environmental, and social

    C b l i d i di id ll d •Can be claimed individually, and even quantified in certain cases (e.g. carbon), but can’t be separated out (no dis-aggregation) •Don’t necessarily need to be quantified Don t necessarily need to be quantified individually in order for RECs to be tradable, fungible fungible
  76. bl f i f i t d REC renewable energy

    fair trade fair trade coffee : :: :
  77. REC renewable energy fair trade fair trade coffee : ::

    : REC energy trade coffee “I drink fair trade coffee, which has the benefit of reducing poverty along with other “I use renewable energy, which has the benefit of reducing GHG emissions along with g p y g benefits.” g g other benefits.” carbon offset renewable energy poverty alleviation fair trade coffee : :: : “I am alleviating poverty.” “I am reducing emissions.”
  78. carbon renewable poverty fair trade : :: : carbon offset

    renewable energy poverty alleviation fair trade coffee : :: : “I am alleviating poverty” I am alleviating poverty. • something that fair trade does, an action • a single benefit g • something that other activities could also do • apart from paying for poverty reductions to reduce poverty, I should first or also stop directly contributing to poverty myself, as much as possible
  79. carbon renewable poverty fair trade : :: : carbon offset

    renewable energy poverty alleviation fair trade coffee : :: : “I am reducing emissions ” • something that renewable energy does, an action • a single benefit I am reducing emissions. g • something that other activities could also do • apart from paying for reductions to reduce GHG emissions, I should first or also stop directly emitting myself, as much as possible
  80. carbon renewable poverty fair trade : :: : carbon offset

    renewable energy poverty alleviation fair trade coffee : :: : “I am alleviating poverty” “I am reducing emissions ” I am alleviating poverty. • something that you could only claim if it’s not being done anyway, must represent a change from I am reducing emissions. something that you could only claim if it s not being done anyway, must represent a change from business as usual
  81. carbon renewable poverty fair trade : :: : carbon offset

    renewable energy poverty alleviation fair trade coffee : :: : “I am reducing emissions ” “I am alleviating poverty” • requires project additionality I am reducing emissions. I am alleviating poverty. requires project additionality
  82. Additionality Additionality Offsets RECs

  83. HOW DOES BUYING RECS AND FAIR TRADE COFFEE MAKE A

    MAKE A DIFFERENCE? DIFFERENCE?
  84. None
  85. None
  86. RECs Carbon Offsets Unit MWh Tonnes CO2 -e Purpose Expand

    consumer choice, address impacts of conventional Diminish GHG emissions and lower costs of climate mitigation electricity generation, support renewable energy development Scope of the Market USA, parts of Canada and Mexico Global Definition/what’s included Full suite of renewable attributes GHG emissions reductions End User’s Claim “I buy/use renewable electricity.” “I’ve offset my carbon emissions,” or “I’ve reduced my emissions ” emissions. Project Types Renewable Energy Various Quality Assurances Resource quality and eligibility, ownership and double counting A.P.R.O.V.E.D.* ownership and double counting, other sustainability criteria Project additionality required No Yes q GHG Accounting Scope 2 All scopes
  87. A REC IS NOT A TYPE OF OFFSET. A REC

    A REC cannot be converted i to a offs t into an offset. A REC cannot be used as an offset. A REC should not be A REC does not include marketed as an offset. A REC does not include an offset.
  88. An offset cannot be cannot be converted into a REC.

    …not even if it comes from a renewable energy project. REC An offset cannot be used as a REC. An offset should not be An offset is marketed as a REC. not part of a REC.
  89. BOTH CAN HELP MINIMIZE YOUR CARBON FOOTPRINT (this is all

    offsets do, but not all RECs do, CARBON FOOTPRINT Both RECs and offsets can ( , , and RECs can only address emissions related to electricity consumption) Both RECs and offsets can come from renewable energy (but not from the same generation, MWh, and the renewable energy facility must meet different requirements in order to produce each and facility must meet different requirements in order to produce each, and for facilities that meet criteria for both and produce both, RECs should always be retired for generation that’s being credited for offsets.
  90. Both are tools Both are tools you can use to

    you can use to k make a difference difference.
  91. New CRS Whitepaper Renewable Energy Certificates, C Off C New

    CRS Whitepaper Carbon Offsets, and Carbon Claims: Best Practices and Frequently Asked Questions This whitepaper explains the difference between RECs and carbon offsets, how the markets for these commodities interact, and the extent to which each G G can be used to address GHG emissions. The paper examines REC definitions and renewable attributes, additionality as it relates to RECs, and ownership of reductions from renewable energy. It also answers questions about carbon offsets that are derived from U.S. renewable energy projects, including questions relating to additionality, the quantification of reductions, and double-counting. www.resource-solutions.org, Under “Recent Publications”
  92. Capital Hilton Washington D C www.renewableenergymarkets.com Capital Hilton, Washington D.C.

    September 23–25, 2012
  93. WEBINAR SERIES 2012 When What February 23, Noon PT/3pm ET

    Carbon Offsets 101 April 26 Noon PT/3pm ET Introduction to Green e Climate April 26, Noon PT/3pm ET Introduction to Green-e Climate May 10, Noon PT/3pm ET Carbon Claims in Green-e Marketplace: Using the Green-e Logo with your Purchase of Certified Offsets - NEW THIS YEAR May 24, Noon PT/3pm ET Offsets vs. RECs: What’s the difference and how should each be used? - NEW THIS YEAR June 7, Noon PT/3pm ET Popular Critiques of Carbon Offsets: Real Answers to the Big Q ti NEW THIS YEAR Questions - NEW THIS YEAR June 21, Noon PT/3pm ET GHG Accounting for Voluntary Purchases of Renewable Energy in the U.S. - NEW THIS YEAR J l 26 N PT/3 ET B t P ti i C i l Off t P h i July 26, Noon PT/3pm ET Best Practices in Commercial Offset Purchasing August 9, Noon PT/3pm ET Carbon Offsets 101 October 25, Noon PT/3pm ET Introduction to Green-e Climate November 1 Noon PT/3pm ET Green-e in LEED - NEW THIS YEAR November 1, Noon PT/3pm ET Green-e in LEED - NEW THIS YEAR
  94. CONTACT Matt Clouse Director, Renewable Energy Policies & Programs U.S.

    Environmental Protection Agency clouse.matt@epa.gov Mary Sotos GHG Protocol Initiative World Resources Institute msotos@wri.org Todd Jones Green-e Climate Manager Center for Resource Solutions todd@resource-solutions.org Jeff Swenerton Communications Director Center for Resource Solutions jeff@resource-solutions org jeff@resource solutions.org @greenemarktplc @greenemarktplc facebook.com/CenterForResourceSolutions