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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
• Methodology issues
• Current funding from The Climate Trust
2009 National Biochar Conference Presentation
Source: The McKinsey Quarterly. 2007. “A cost curve for greenhouse gas reductions.”
2009 National Biochar Conference Presentation
2009 National Biochar Conference Presentation
2009 National Biochar Conference Presentation
US Offset Market
• Trends
–Fossil fuels will likely be capped
–Favor domestic projects over international projects
• Destroying methane emissions
• Sequestration
– Forestry
– Soil Management
– Biochar?
Sequestration Projects
• Clean Development Mechanism
– Reforestation/afforestation only
– Temporary credits
HFCs, PFCs & N2O
reduction
27%
Renewables
35%
CH4 reduction & Cement &
Coal mine/bed
20%
Supply-side EE
10%
Fuel switch
7%
Demand-side EE
1%
Afforestation &
Reforestation
0.4%
Transport
0.2%
Expected CERs Until 2012 (%) in each category
Outline
• Theory of offsets
• How offsets could support biochar projects
• Methodology issues
• Current funding from The Climate Trust
$ = CO2 Sequestered x Price
•Low Quality US Projects
• Chicago Climate Exchange: $2-$4/mt CO2
• High Quality US Projects
• Voluntary Carbon Standard: $4-$9/mt CO2
• California Climate Action Registry: $5-$11/mt CO2
• Mature International Markets
• EU Emissions Trading Scheme: $10-$40/mt CO2
• Projections for Early US Market
• Markey-Waxman Bill : $10-$15/mt CO2
GHG Reduction Reduction Size Qualify for Carbon
Finance?
Sequestration Large Yes
Fuel switch Medium Likely to be capped
Less fertilizer  fewer
soil emissions
(N2O and CH4)
Medium/Large Hard to measure
Less fertilizer  less
fertilizer production
Small/Medium Indirect, hard to
measure, likely to be
capped
Biochar GHG Reductions
Currently Methodologies
Avoidance of methane production from
biomass decay through controlled
pyrolysis
• Small scale
• No credit for carbon sequestration, but…
• Char must be “biologically inert”
• Volatile C/Fixed C ratio lower than 50%
Next Step: Sequestered Carbon
Carbon Gold methodology for proposed to
the Voluntary Carbon Standard
Outline
• Theory of offsets
• How offsets could support biochar projects
• Methodology issues
• Current funding from The Climate Trust
Unresolved Methodology
Issues
• Recalcitrance
• Guarantee 100 years of permanent
sequestration
• Carbon Gold: Volatile C/Fixed C ratio
lower than 50%
• Soil monitoring
• What happens to char that erodes out of
the soils?
Unresolved Methodology
Issues
• Ownership – Three entities, same reduction
1. Feedstock owner
2. Pyrolysis plant
3. Land owner
• Carbon Gold: Credits pyrolysis plant
• Sequestered carbon can only be claimed once
Unresolved Methodology
Issues
• Environmental impact
– Heavy metals
– Criteria air pollutants
– Microbe health
– Carbon already in soil
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”
Outline
• Theory of offsets
• How offsets could support biochar projects
• Methodology issues
• Current funding from The Climate Trust
• 3 Programs
• Oregon Program
• Smart Energy
• Colorado Carbon Fund
• 16 projects, $8.8 million in
funding, 2.6 million tons of CO2
offset
• Non-profit
- Laboratory for innovative
offset projects
2009 National Biochar Conference Presentation
Project Development Timeline
Proposal Due
Diligence
Contract
Negotiation Commercial
Operation
Annual
Monitoring
Upfront Payment
Annual payment
“upon delivery”
Peter Weisberg
Offset Project Analyst
pweisberg@climatetrust.org
503-238-1915 x 207

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2009 National Biochar Conference Presentation

  • 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 • Methodology issues • Current funding from The Climate Trust
  • 4. Source: The McKinsey Quarterly. 2007. “A cost curve for greenhouse gas reductions.”
  • 8. US Offset Market • Trends –Fossil fuels will likely be capped –Favor domestic projects over international projects • Destroying methane emissions • Sequestration – Forestry – Soil Management – Biochar?
  • 9. Sequestration Projects • Clean Development Mechanism – Reforestation/afforestation only – Temporary credits HFCs, PFCs & N2O reduction 27% Renewables 35% CH4 reduction & Cement & Coal mine/bed 20% Supply-side EE 10% Fuel switch 7% Demand-side EE 1% Afforestation & Reforestation 0.4% Transport 0.2% Expected CERs Until 2012 (%) in each category
  • 10. Outline • Theory of offsets • How offsets could support biochar projects • Methodology issues • Current funding from The Climate Trust
  • 11. $ = CO2 Sequestered x Price •Low Quality US Projects • Chicago Climate Exchange: $2-$4/mt CO2 • High Quality US Projects • Voluntary Carbon Standard: $4-$9/mt CO2 • California Climate Action Registry: $5-$11/mt CO2 • Mature International Markets • EU Emissions Trading Scheme: $10-$40/mt CO2 • Projections for Early US Market • Markey-Waxman Bill : $10-$15/mt CO2
  • 12. GHG Reduction Reduction Size Qualify for Carbon Finance? Sequestration Large Yes Fuel switch Medium Likely to be capped Less fertilizer  fewer soil emissions (N2O and CH4) Medium/Large Hard to measure Less fertilizer  less fertilizer production Small/Medium Indirect, hard to measure, likely to be capped Biochar GHG Reductions
  • 13. Currently Methodologies Avoidance of methane production from biomass decay through controlled pyrolysis • Small scale • No credit for carbon sequestration, but… • Char must be “biologically inert” • Volatile C/Fixed C ratio lower than 50%
  • 14. Next Step: Sequestered Carbon Carbon Gold methodology for proposed to the Voluntary Carbon Standard
  • 15. Outline • Theory of offsets • How offsets could support biochar projects • Methodology issues • Current funding from The Climate Trust
  • 16. Unresolved Methodology Issues • Recalcitrance • Guarantee 100 years of permanent sequestration • Carbon Gold: Volatile C/Fixed C ratio lower than 50% • Soil monitoring • What happens to char that erodes out of the soils?
  • 17. Unresolved Methodology Issues • Ownership – Three entities, same reduction 1. Feedstock owner 2. Pyrolysis plant 3. Land owner • Carbon Gold: Credits pyrolysis plant • Sequestered carbon can only be claimed once
  • 18. Unresolved Methodology Issues • Environmental impact – Heavy metals – Criteria air pollutants – Microbe health – Carbon already in soil
  • 19. 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”
  • 20. Outline • Theory of offsets • How offsets could support biochar projects • Methodology issues • Current funding from The Climate Trust
  • 21. • 3 Programs • Oregon Program • Smart Energy • Colorado Carbon Fund • 16 projects, $8.8 million in funding, 2.6 million tons of CO2 offset • Non-profit - Laboratory for innovative offset projects
  • 23. Project Development Timeline Proposal Due Diligence Contract Negotiation Commercial Operation Annual Monitoring Upfront Payment Annual payment “upon delivery”
  • 24. Peter Weisberg Offset Project Analyst pweisberg@climatetrust.org 503-238-1915 x 207

Notas del editor

  1. Very hard to regulate every source of emissions