- What is Carbon Project Manager North America?
- How and where is data collected?
- How frequently does the team update the data?
- How do you aggregate the price ranges?
- What do the different project “Stages” mean?
- What do the different project “Types” mean?
- What do the different player “Roles” mean?
- What do the different “Dates” mean?
- Are there any limitations of the data?
What is Carbon Project Manager North America?
Carbon Project Manager North America (CPMNA) is a one stop shop for premier information on North American voluntary and compliance offset markets. Along with the latest news, in-depth analysis, and pricing information, CPMNA’s searchable database includes over 1,400 offset projects and almost 1,500 contacts, providing you with a unique and indispensible tool to make business decisions in the North American carbon market.
How and where is data collected?
The data is collected through a variety of public, semi-private (membership based), and confidential sources. These sources include but are not limited to: public and private registries, media reports, SEC documents, personal communication, press releases, exclusive client information exchanges, company websites, and academic publications.
How frequently does the team update the data?
Data is updated on a continuous basis, focusing on the following trigger events:
- When projects move from one stage to another (for example, from research and development stage to commercialization stage, or from commercialization to emission reductions production, etc.)
- When projects are issued credits
- When credits are retired
- When projects are terminated
How do you aggregate the price ranges?
The price ranges are aggregated from transaction information provided by buyers, sellers, traders, and brokers. The transactions are reported on a monthly basis, and focus on offsets in the United States and Canada. These prices reflect a primary market price, but do not factor in any issuance or certification risk. For price points that show a range of transaction prices (highest and lowest), Thomson Reuters Point Carbon (TRPC) averages the mid-market price for that range of prices. For price points that reflect bid-ask spreads, TRPC averages the bids and offers provided by participants. TRPC only includes offset prices which have multiple data sources.
What do the different project “Stages” mean?
TRPC has divided each project’s development cycle into several stages.
- Research and Development: The project is at early stage, and the technology is still unproven at this time. For example, early stage carbon capture and storage (CCS) or wave energy projects may qualify for this.
- Demonstration and Commercialization: The project has a proven technology, but is still going through the process of siting, permitting, licensing, financing, and/or construction. In other words, the project is not online yet, but is in the process of coming online. An example of this would be an initial Request for Proposal (RFP) for construction of methane capture at a landfill gas project.
- Producing ERs: The project is currently online and is reducing emissions. It may or may not wait for verification. The project has not yet been listed on any of the offsets registries.
- Project Listed: The project has been listed on an offsets registry, but has not yet been verified or been issued credits.
- Project Verified: The project has received verification from a 3rd party source that it is reducing emissions. It may or may not have been listed on an offsets registry.
- Credits Issued: The project has been issued credits by an official standard, certifier, or verifier. The project may or may not be listed on an offsets registry.
- Project Finished: The project has finished generating offsets and is no longer being issued credits.
- Project Termination: The project has been terminated early for unforeseen reasons, and is not creating carbon offsets.
What do the different project “Types” mean?
The database of projects is broken up into 12 types:
- Agriculture: includes any waste processing from agricultural sites. Normally, this type relates to the projects which include an anaerobic digestor for animal waste, but it can also include soil sequestration, rice cultivation, N2O fertiliser management, and wastewater treatment.
- Biosequestration: includes any project which aims to sequester carbon through biological means (aside from forestry or soil sequestration projects). In practice, this type is predominately attached to algae-related projects.
- Coal Mine Methane: includes projects which create energy by burning methane or just vent the methane from abandoned coal mines.
- Energy Efficiency: includes both demand side energy efficiency as well as energy efficiency in power generation and industrial facilities.
- Fuel Switching: includes projects which seek to change their fuel source for a particular activity to reduce their net CO2 emissions. Industrial and power generation facilities, which switch to biomass, biofuels, or even natural gas as a way of reducing their carbon footprint, would normally fall under this project category.
- Fugitive Emissions: includes projects which reduce the amount of greenhouse gases escaping directly into the atmosphere as a result of economic activity. This type usually applies to the extraction and/or transportation of coal, natural gas and oil, particularly when methane is captured or flared.
- Geosequestration: This is an experimental category of projects which are mostly undergoing pilot studies. The projects include collecting CO2 from fossil fuel emissions and burying it underground.
- Industrial Processes: include reduction of emissions from projects which are releasing high levels of industrial greenhouse gases (HFCs, SF6, PFCs, N2O, etc). This type also applies to projects, which incinerate ozone depleting substances (ODS).
- Landfill Gas: includes methane capture at landfill sites.
- LULUCF: includes projects that reduce emissions from land use, land use change, and forestry. Related activities would be reforestation, afforestation, REDD, and peat management projects.
- Renewable Energy: includes projects, which seek to generate energy from renewable sources. This project type is broken down into the following subtypes: fuel cells, biomass, hydropower, geothermal, solar, tidal, wave and wind.
- Transportation: includes projects which reduce transportation emissions. Typically, this type of activity is performed either through switching fossil fuel inputs with renewable fuels, or becoming more energy efficient in the use of transportation fuels.
- Waste: This category includes projects which reduce emissions from waste water and through organic waste digestion.
What do the different player “Roles” mean?
Organizations can be categorized in a number of roles, and an organization can be assigned more than one role on any given project:
- Academic: A university or educational entity that is providing support, as part of a project, paper, dissertation, or report.
- Aggregator: An organization that is purchasing credits, with the intention of selling them in the secondary market to a third party, similar to a marketer. This organization is not looking to utilize them for their own compliance. Aggregators hope to make money by purchasing credits for a lower price, and then selling them at a higher price. This role often overlaps with project developer, carbon credit buyer, and project proponent.
- Broker: A financial organization that brings buyers and sellers together, and arranges the deals. Brokers do not take ownership of the credits, but typically make money by charging a percentage of the overall transaction value.
- Carbon Credit Buyer: An organization that is purchasing the credits from the project.
- Carbon Exchange Representative: A financial exchange where the credits from a project are exclusively sold.
- Certifier: The organization that certifies the credits, stating that the project and its credits adhere to their requirements. This role is separate from a verifier, which acts on the ground as an auditor. Typically, the certifier needs approval from the verifier before certification, though practices differ depending on the system. This role can also overlap with standards organization or registry.
- Consultant: An organization that provides guidance and advisory support to a project, but neither owns the credits, nor participates in the sale transactions. The consultant delivers its services for a fee.
- Government regulator: The government entity directly involved in the project, either as an investor, regulatory body, or as approver/certifier.
- Investor: Any organization that has invested in the offset project but does not purchase or own credits directly.
- Other Party: An organization that participates in the project in a way that is not otherwise categorized within this list.
- Power Purchaser: An organization that is purchasing power from the offset project, most often as part of a power purchase agreement. This organization may or may not be purchasing the green attributes as part of that purchase agreement.
- Project Developer: The organization that is responsible for installing the emission reduction activity, and is the original owner of the carbon credits from the project. The developer can either implement the project directly, or contract out various parts of that task.
- Project Proponent: The organization that is the lead contact for carbon credit monetization and sales for the project. This role often overlaps with project developer, aggregator, and/or project host.
- Project Host: The owner of the site where the emission reduction activity takes place. This organization does not necessarily have any stake in the ownership of the credits, though this depends on the agreement under which the project is implemented.
- REC Buyer: The organization that is purchasing renewable energy certificates (RECs) from the offset project.
- Registry: The system where the project is listed, and where the credits are issued, tracked, and given unique serial numbers. The registry usually works in tandem with a standards organization, government organization, or certifier to provide transparency and accountability to the system.
- Standards Organization: The organization that provides methodologies and protocols, which are used as requirements or guidelines for monetizing credits.
- Technology Provider: The company or partner that provides equipment which plays a key role in the emission reduction activity.
- Validator: The organization that does on the ground auditing to ensure that a project meets all requirements for registration or listing with a certifier, registry, or standards organization. The validator does not specifically monitor annual reductions, but only looks at the eligibility of the project as a whole.
- Verifier: The organization that does on the ground auditing to monitor the reductions, and verify specific reductions over a time period, so that those reductions can be issued for the project. In many voluntary systems, the verifier can play the dual role of verifier and validator, and in that case, the organization will be a designated verifier.
What do the different “Dates” mean?
Projects have a number of dates which are shown for each project. Here is the meaning of each of those dates:
- Project Start Date: The date when the reduction activity has started and begun to generate carbon credits. In the case where the reduction activity has started but reductions cannot be generated until later, the start date should be the first date when the reductions are converted into carbon credits.
- Project End Date: The date when the offset project is due to end generating emission reductions.
- Project approval date: The date when the project has been given approval to move ahead to create carbon credits. On the Climate Action Reserve, this is designated as the date when the submission document has been completed.
- Listing date: The date that the project has been first listed on the respective registry. This date is indicated in the Project Verification Opinion.
- Verification date: The date when the verification report has been completed. On the Climate Action Registry, this date is displayed on the Project Verification Report document.
- Issuance date: The date when the project first receives issued credits for its reductions.
Are there any limitations of the data?
By nature of the current unregulated marketplace, it is impossible to assume that we have captured all the data in the marketplace. However, CPMNA is still the world’s best information source for North American carbon offsets.