Voluntary Carbon Standard Issues Blue Source First US- based Offsets
SALT LAKE CITY – April 14, 2009 – Blue Source LLC today announced the first issuance of US-based greenhouse gas offsets from projects approved by the Voluntary Carbon Standard (VCS). These offsets originate from two Blue Source projects registered on the APX and TZ1 VCS Registries and total more than 1.6 million Voluntary Carbon Units (VCUs).
“This is quite an accomplishment for Blue Source to receive the first VCUs issued to projects in the United States and provides an added degree of consistency and transparency to businesses seeking solutions to climate change,” said Bill Townsend, CEO of Blue Source.
Blue Source registered more than 341,000 VCUs (each VCU represents one metric tonne of CO2e) with APX from the North Antelope Rochelle Mine in Wyoming. This project was the first to successfully complete the Voluntary Carbon Standard’s double validation process, which will now encourage project development within a new sector of the coal mining industry. First Environment and Det Norske Veritas both played principal roles in the double validation process; First Environment also provided the project validation and verification services. This project captures and utilizes methane that was previously released into the atmosphere during traditional mining operations.
Tod Delaney, president of First Environment remarked, “Congratulations to Blue Source on their accomplishment. First Environment and its verification team are proud to have participated in the validation and verification of the first VCUs from a US-based project.”
More than 1.3 million VCUs were also issued on the TZ1 Registry from four of Blue Source’s wastewater treatment projects in the Midwestern United States. Wastewater from food processing facilities was previously treated in open anaerobic lagoons, resulting in the release of significant amounts of methane into the atmosphere. The projects now operate covered lagoon systems, collecting methane and subsequently flaring it or utilizing it to displace on-site fossil fuel consumption. Det Norske Veritas was chosen to provide the validation and verification services for this project, and Shell Energy North America (US), L.P. (Shell Energy) was the first customer to purchase VCUs from these projects.
"Shell Energy is proud to have been involved in the acquisition of Voluntary Carbon Units from Blue Source's waste water treatment project" said Mark Quartermain, president of Shell Energy. "The ability to track ownership of verified emission reductions through registries is critical to ensure market credibility in these new instruments. Congratulations to VCS and TZ1 in establishing the infrastructure and to Blue Source for developing these projects."
“This is quite a milestone and we congratulate Blue Source for being the first to issue VCUs from a US-based project. This demonstrates that there are excellent offset opportunities in the US, and we expect that the VCS Registry System will bring added transparency and confidence to the growing offset market here,” said David Antonioli, CEO of the Voluntary Carbon Standard Association.
The offsets from these Blue Source projects are registered on the VCS Registry system with multiple vintages available for businesses to purchase either for their corporate sustainability or carbon neutrality plans or for businesses interested in buying high quality emission reductions in anticipation such assets will comply with pending federal legislation.
About Blue Source, LLC
Blue Source offers businesses multiple approaches for reducing and managing greenhouse gas emissions. Blue Source provides access to capital to fund project development, works with companies on developing projects and oversees production of long-term Verified Emission Reductions (VERs).
About the VCS
The VCS is a global benchmark standard for voluntary greenhouse gas emission reductions and removals. Developed by The Climate Group, the International Emissions Trading Association (IETA), the World Business Council for Sustainable Development (WBCSD) and a range of business, government and non-government organizations, the VCS offers confidence to buyers, sellers and other stakeholders in the growing voluntary carbon market. Full technical details of the Voluntary Carbon Standard rules are published and available at www.v-c-s.org.
Media contact:
Joe McGurk
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