What are Carbon Credits for ODS Destruction anyway?
Very simply, they are INCENTIVES. A Carbon Credit is generated when the equivalent of one metric tonne of carbon dioxide is prevented from entering the atmosphere. When just one ton of ODS is destroyed, it prevents thousands of times more chemicals from entering the atmosphere, than a ton of carbon dioxide. Therefore, it is important that ODS be destroyed and never be deliberately or accidentally discharged into the atmosphere. Carbon credits have been created to offer incentives for the destruction of ODS.
These incentives are issued by The Climate Action Reserve (CAR) or the Chicago Climate Exchange (CCX) or the Voluntary Carbon Standard(VCS), following the proper and well-documented destruction of eligible ODS material. These incentives or carbon credit certificates can then be sold on the open market for CASH to help offset the cost of destruction.
How much are Carbon Credits Worth?
Each carbon credit certificate can be traded (bought and sold) on the open market like other commodities are traded. Carbon Credits fluctuate with supply and demand. Demand depends on the buyers who are voluntarily being good stewards of the earth’s climate and want to participate in reducing global warming threats and also by buyers who are legally mandated to reduce their carbon emission activities or their carbon footprints. The carbon credits will be much more in demand if the Cap and Trade program is adopted by the U. S. Senate, like the one that has already passed in the House of Representatives in 2009. As the economy begins to recover, the need or demand for carbon credits will also increase. Today, they are worth between $3.00 and $8.00 depending on numerous market variables.
How are Incentives for the Destruction of ODS Calculated?
RemTec is a proud member and Project Developer for The Climate Action Reserve or CAR. The CAR is a U.S. private, nonprofit organization representing international interests, in addressing climate change and bringing together participants from the governmental, environmental and business sectors. It works to ensure environmental benefit, integrity and transparency in greenhouse gas (GHG) emissions accounting and reduction and progressive movement in GHG emissions policy nationally and in the Western U.S. The Climate Action Reserve continues building on the California Registry’s reputation as a respected and internationally recognized leader in climate change issues. For additional information, please visit www.climateactionreserve.org.
The CAR recently adopted two new offset project standards that could lead to millions of metric tonnes of greenhouse gas (GHG) emissions reductions. Targeting the destruction of Ozone Depleting Substances (ODS), the U.S. ODS Project Protocol and the Article 5 ODS Project Protocol provide financial incentives for destruction of ODS in the U.S. and developing countries. Because ODS can be thousands of times more damaging than carbon dioxide (CO2) at trapping heat in the atmosphere, ODS destruction offset projects may produce hundreds of thousands – or even millions – of offset credits.
What ODS chemicals are eligible for destruction?
The CAR Protocol provides incentives for the destruction of R-11, R-12, R-114 and R-115 only if they were previously used in refrigerant applications or are from virgin stockpiles. Other CFCs recovered from foam building insulation and from appliance insulation may also be eligible.
If the material is imported to the USA from certain developing countries, referred to as Article V member countries in the Montreal Protocol, it is also eligible, and R-113 is also added to the list of eligible CFCs.
How does RemTec Destroy ODS?.
RemTec utilizes a high-efficiency Plasma Arc technology that is designed to break down halocarbons and other organic matter, at an ultra high efficiency rated in excess if 99.9999%. Since the only significant effluent is a salt solution, this technology is considered safe to operate and environmentally friendly. RemTec’s Plasma Arc Destruction System meets or exceeds all TEAP performance standards.
Follow this link for more information: http://www.remtec.net/eudisposal_destruction.html