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Carbon Markets and Biochar: An Offset Buyers Perspective North American Biochar Conference

Carbon Markets and Biochar: An Offset Buyers Perspective North American Biochar Conference August 10th, 2009. Peter Weisberg Offset Project Analyst pweisberg@climatetrust.org 503-238-1915. Outline. Theory of offsets How offsets could support biochar projects

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Carbon Markets and Biochar: An Offset Buyers Perspective North American Biochar Conference

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  1. Carbon Markets and Biochar: An Offset Buyers Perspective North American Biochar Conference August 10th, 2009 Peter Weisberg Offset Project Analyst pweisberg@climatetrust.org 503-238-1915

  2. Outline • Theory of offsets • How offsets could support biochar projects • Current funding from The Climate Trust

  3. Source: The McKinsey Quarterly. 2007. “A cost curve for greenhouse gas reductions.”

  4. Sequestration and Carbon Markets • Very little sequestration thus far: • No soils • Only reforestation/afforestation with temporary credits

  5. US Offset Market • Trends • Fossil fuels will likely be capped • Favor domestic projects over international projects • Destroying methane emissions • Dairy digesters • Landfill gas capture • Wastewater treatment plants • Coal mine methane • Sequestration • Forestry • Afforestation/Reforestation • Improved Forest Management • Avoided Conversion/Deforestation • Soil Management • Biochar?

  6. Outline • Theory of offsets • How offsets could support biochar projects • Current funding from The Climate Trust

  7. $ = CO2 Sequestered x Price • Low Quality US Projects • Chicago Climate Exchange: $2-$4 • High Quality US Projects • Voluntary Carbon Standard: $4-$9 • California Climate Action Registry: $5-$11 • Mature International Markets • EU Emissions Trading Scheme: $10-$40 • Projections for Early US Market • Markey-Waxman Bill : $10-$15

  8. Currently Available Methodologies • Avoidance of methane production from biomass decay through controlled pyrolysis • Small scale • No credit for carbon sequestration • Char must be “biologically inert” • Volatile C/Fixed C ratio lower than 50%

  9. Next Step: Sequestered Carbon Carbon Gold methodology for proposed to the Voluntary Carbon Standard

  10. Unresolved Methodology Issues • Recalcitrance • Guarantee 100 years of permanent sequestration • Carbon Gold: Volatile C/Fixed C ratio lower than 50% • Erosion • What happens to char that erodes out of the soils?

  11. Unresolved Methodology Issues • Ownership – Three entities with valid ownership claims • Feedstock owner • Pyrolysis plant • Soil owner/Farmer using char • Can only be claimed once

  12. Unresolved Methodology Issues • No environmental harm • Heavy metals • Criteria air pollutants • Microbe health

  13. Unresolved Methodology Issues • Environmental impact • Heavy metals • Criteria air pollutants • Microbe health • Carbon already in soil

  14. Resolved Issue: Waste Feedstocks • Leakage • Changes in emissions outside the project itself • Direct: Biomass fuel unavailable • Indirect: displace current farm land for biochar feedstock plantations  land use change • Carbon Gold: “biomass that would otherwise have been left to decay or been burned in an uncontrolled manner”

  15. Outline • Theory of offsets • How offsets could support biochar projects • Current funding from The Climate Trust

  16. 3 Programs • Oregon Program • Smart Energy • Colorado Carbon Fund • 16 projects, $8.8 million in funding, 2.6 million tons of CO2offset • Non-profit • - Laboratory for innovative offset projects

  17. Project Development Timeline Upfront Payment Proposal Contract Negotiation Annual Monitoring Due Diligence Commercial Operation Annual payment “upon delivery”

  18. Peter Weisberg Offset Project Analyst pweisberg@climatetrust.org 503-238-1915 x 207

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