Regional Greenhouse Gas Initiative

an initiative of the Northeast and Mid-Atlantic States of the U.S.

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CO2 Offsets

Model Materials

 

In May 2009, the RGGI States released draft model templates for offset verifier accreditation applications and pre-engagement conflict of interest (COI) disclosure filing materials. The draft model templates served as the basis for developing materially consistent state-specific verifier application and submittal materials.  

The model documents are available below.

Note: These model documents are provided for informational purposes only and should not be submitted to RGGI States.

 

Accredited Verifiers

 

Offset project Consistency Application and Monitoring and Verification Report submittals must include a signed verification statement and verification report from an accredited independent offset project verifier.  The verifier must be accredited by the reviewing state (e.g., an offset project application submitted to a respective state must include a report from a verifier accredited by that state).

Verifiers are accredited by individual RGGI States.  However, states may recognize the accreditation of a verifier by another participating state.  If a state recognizes another state's accreditation, the verifier is also deemed to be accredited in the recognizing state.

The table below lists independent offset project verifiers that have been directly accredited by one or more RGGI States, the term of the accreditation, the other RGGI States that have recognized such accreditation for use in their state, and the offset project categories to which the accreditation applies.

  

Accredited Verifiers

 Accredited
 Verifier

 Project
 Categories

 Accrediting
 State

 Date of
 Accreditation

 Accreditation
 Valid
 Through

 Other States
 Recognizing
 Accreditation

First
 Environment

(View
 Application
)

  • Landfill Gas

  • SF6

  • Agricultural Manure Mgmt.

 

NY

July 14, 2016

July 14, 2019

CT
DE
ME
NH
RI
VT

Ruby Canyon Engineering

(View Applications)

  • Landfill Gas

  • SF6

  • Agricultural Manure Mgmt

CT

DE

MA

MD

ME

NH

NY

RI

VT

July 9, 2014

June 19, 2014

June 9, 2014

August 27, 2014

August 25, 2014

June 9, 2014

June 19, 2014

June 9, 2014

June 16, 2014

July 8, 2017

June 18, 2017

June 8, 2017

August 26, 2017

August 24, 2017

June 8, 2017

June 18, 2017

June 8, 2017

June 15, 2017

 

TUV SUD America, Inc

(View Application)

  • Landfill Gas

  • SF6

  • Building Energy Efficiency

  • Agricultural Manure Mgmt.

MA

July 13,
2010

July 12,
2013

CT
NH

Advanced Waste Management Systems, Inc.

(View Application)

  • Landfill Gas

  • SF6

  • Building Energy Efficiency

 

MA

June 18,
2010

June 17,
2013

CT
NH

First
 Environment

(View
 Application
)

  • Landfill Gas

  • SF6

  • Building Energy Efficiency

  • Agricultural Manure Mgmt.

 NY

 January 15,
 2010

 January 14,
 2013

 CT
 NH

Model Materials

 

In May and June 2009, the RGGI States released draft model templates for offset project Consistency Applications and Monitoring and Verification Reports. The draft model templates served as the basis for developing materially consistent state-specific offset project application and submittal materials.

The model documents are available below. Note: These model documents are provided for informational purposes only and should not be submitted to RGGI States.

 

Landfill Methane Capture and Destruction
Reduction in Emissions of Sulfur Hexafluoride (SF6)
U.S. Forest Projects (Reforestation, Improved Forest Management, Avoided Conversion) (DE, ME, MD, MA, NH, RI, VT)
Sequestration of Carbon due to Afforestation (CT and NY)
Avoided Methane Emissions from Agricultural Manure Management Operations
Reduction or Avoidance of CO2 Emissions Due to End-Use Energy Efficiency in the Building Sector

  

Verification Process

 

Consistency Applications and Monitoring and Verification Reports must include a signed verification statement and verification report from a state-accredited independent verifier. 

State Accreditation

Each independent verifier must be accredited by the RGGI State in which the offset project is located, although a RGGI State may acknowledge accreditation by another RGGI State.

Pre-Engagement COI Filing

Prior to engaging with an offset project sponsor to provide verification services, an accredited verifier must submit a pre-engagement conflict of interest (COI) disclosure filing to the appropriate regulatory agency in the state where the offset project is located.  This filing is required for disclosure of potential relationships or other issues that could lead to a COI situation between the verifier and the offset project sponsor or a related party.

The links below lead to each state's offset program webpage, which contain state-specific verifier accreditation instructions, verifier accreditation application materials, and pre-engagement COI submittal forms.



Project sponsors should contact state offset program staff with specific program questions. Contact information can be found through the link on the right hand side of this page.

Offset Handbook

 

This page contains the Offset Handbook for the Regional Greenhouse Gas Initiative (RGGI) Model Rule and model offset applications and monitoring and verification reports.

The Offset Handbook explains:

  • RGGI Model Rule provisions for offset projects (Subpart XX-10) and the award CO2 offset allowances
  • The documentation required in model templates for offset project Consistency Applications and Monitoring and Verification Reports. The model templates served as the basis for developing state-specific offset project application and submittal materials.

The Offset Handbook has been prepared for informational purposes only to explain the model documents listed above. The Offset Handbook does not constitute formal guidance or an official interpretation by any individual RGGI participating state regarding its CO2 Budget Trading Program regulations.

Download the Offset Handbook here.

 

 

 

 

 

 

 

 

Allowance Prices and Volumes (by Auction)

This chart displays the results of each RGGI CO2 Allowance Auction. To view a state-by-state breakdown for each auction, click on the auction number listed in the left-hand column.

 

Auction Number Offering Quantity Offered Quantity Sold Clearing Price Total Proceeds
Auction 38
12/08/2017
Current 14,687,989 14,687,989 3.80 $55,814,358.20
Auction 37
09/08/2017
Current 14,371,585 14,371,585 4.35 $62,516,394.75
Auction 36
06/07/2017
Current 14,597,470 14,597,470 $2.53 $36,931,599.10
Auction 35
03/08/2017
Current 14,371,300 14,371,300 $3.00 $43,113,900.00
Auction 34
12/07/2016
Current 14,791,315 14,791,315 $3.55 $52,509,168.25
Auction 33
09/07/2016
Current 14,911,315 14,911,315 $4.54 $67,697,370.10
Auction 32
06/01/2016
Current 15,089,652 15,089,652 $4.53 $68,356,123.56
Auction 31
03/09/2016
Current 14,838,732 14,838,732 $5.25 $77,903,343.00
Auction 30
12/2/2015
Current 15,374,274 15,374,274 $7.50 $115,307,055.00
Auction 29
9/9/2015
Current 15,374,294 25,374,294 $6.02 $152,753,249.88
10,000,000(CCR)
Auction 28
6/3/2015
Current 15,507,571 15,507,571 $5.50 $85,291,640.50
Auction 27
3/11/2015
Current 15,272,670 15,272,670 $5.41 $82,625,144.70
Auction 26
12/3/2014
Current 18,198,685 18,198,685 $5.21 $94,815,148.85
Auction 25
9/3/2014
Current 17,998,687 17,998,687 $4.88 $87,833,592.56
Auction 24
6/4/2014
Current 18,062,384 18,062,384 $5.02 $90,673,167.68
Auction 23
3/5/2014
Current 18,491,350 23,491,350 $4.00 $93,965,400.00
5,000,000(CCR)
Auction 22
12/4/2013
Current 38,329,378 38,329,378 $3.00 $114,988,134.00
Auction 21
9/4/2013
Current 38,409,043 38,409,043 $2.67 $102,552,144.81
Auction 20
6/5/2013
Current 38,782,076 38,782,076 $3.21 $124,490,463.96
Auction 19
3/13/2013
Current 37,835,405 37,835,405 $2.80 $105,939,134.00
Auction 18
12/5/2012
Current 37,563,083 19,774,000 $1.93 $38,163,820.00
Auction 17
9/5/2012
Current 37,949,558 24,589,000 $1.93 $47,456,770.00
Auction 16
6/6/2012
Current 36,426,008 20,941,000 $1.93 $40,416,130.00
Auction 15
3/14/2012
Current 34,843,858 21,559,000 $1.93 $41,608,870.00
Auction 14
12/07/2011
Current 42,983,482 27,293,000 $1.89 $51,583,770.00
Future 1,864,951 0 --
Auction 13
09/07/2011
Current 42,189,685 7,487,000 $1.89 $14,150,430.00
Future 1,864,951 0 --
Auction 12
06/08/2011
Current 42,034,184 12,537,000 $1.89 $25,477,200.00
Future 1,864,952 943,000 $1.89
Auction 11
03/09/2011
Current 41,995,813 41,995,813 $1.89 $83,425,588.47
Future 2,144,710 2,144,710 $1.89
Auction 10
12/01/2010
Current 43,173,648 24,755,000 $1.86 $48,224,220.00
Future 2,137,991 1,172,000 $1.86
Auction 9
09/10/2010
Current 45,595,968 34,407,000 $1.86 $66,437,340.00
Future 2,137,992 1,312,000 $1.86
Auction 8
6/09/2010
Current 40,685,585 40,685,585 $1.88 $80,465,566.78
Future 2,137,993 2,137,993 $1.86
Auction 7
3/10/2010
Current 40,612,408 40,612,408 $2.07 $87,956,944.56
Future 2,137,992 2,091,000 $1.86
Auction 6
12/2/2009
Current 28,591,698 28,591,698 $2.05 $61,587,120.90
Future 2,172,540 1,599,000 $1.86
Auction 5
9/9/2009
Current 28,408,945 28,408,945 $2.19 $66,278,239.35
Future 2,172,540 2,172,540 $1.87
Auction 4
6/17/2009
Current 30,887,620 30,887,620 $3.23 $104,242,445.00
Future 2,172,540 2,172,540 $2.06
Auction 3
3/18/2009
Current 31,513,765 31,513,765 $3.51 $117,248,629.80
Future 2,175,513 2,175,513 $3.05
Auction 2
12/17/2008
Current 31,505,898 31,505,898 $3.38 $106,489,935.24
Auction 1*
9/25/2008
Current 12,565,387 12,565,387 $3.07 $38,575,738.09

 

*Six states participated in Auction 1

Supply & Bid Statistics (by Auction)

This chart includes data from the market monitor's reports on participation in the current control period offering in each RGGI CO2 Allowance Auction.

Auction Potential Bidders Ratio of Bids to Supply Allowances Won by Compliance Entities and their Affiliates Allowances Won by Compliance-Oriented Entities
Auction 38 45 2.2 64% 55%
Auction 37 50 2.7 47% 38%
Auction 36 48 2.1 49% 36%
Auction 35 48 2.2 47% 34%
Auction 34 48 2.4 71% 40%
Auction 33 50 2.8 61% 42%
Auction 32 56 3.1 93% 64%
Auction 31 57 3.5 67% 59%
Auction 30 57 3.0 80% 23%
Auction 29 55 3.4 74% 51%
2.1 (w/CCR)
Auction 28 53 3.1 68% 47%
Auction 27 50 2.8 100% --
Auction 26 53 2.5 88% --
Auction 25 47 2.5 80% --
Auction 24 51 2.9 55% --
Auction 23 52 3.1 45% --
2.5 (w/CCR)
Auction 22 55 2.7 43% --
Auction 21 52 2.0 53% --
Auction 20 55 2.1 68% --
Auction 19 43 2.2 69% --
Auction 18 34 0.53 100% --
Auction 17 29 0.65 100% --
Auction 16 35 0.57 95% --
Auction 15 34 0.62 99% --
Auction 14 49 0.63 99% --
Auction 13 41 0.18 94% --
Auction 12 47 0.3 91% --
Auction 11 49 1.1 85% --
Auction 10 49 0.57 97% --
Auction 9 56 0.75 92% --
Auction 8 53 1.3 92% --
Auction 7 61 2.3 85% --
Auction 6 74 2.6 65% --
Auction 5 59 2.5 77% --
Auction 4 67 2.6 85% --
Auction 3 63 2.5 78% --
Auction 2 84 3.5 87% --
Auction 1 82 4.1 82% --

 

Cumulative Allowances & Proceeds (by State)

This chart displays cumulative auction results organized by state. To view a complete breakdown by auction and allowance control period for each state, click on the state name listed in the left-hand column.

State

Cumulative Allowances Sold

Cumulative Proceeds

Connecticut 59,689,570 $186,744,124.38
Delaware 32,041,210 $107,255,871.02
Maine 29,218,563 $91,909,096.27
Maryland 188,574,702 $584,573,954.11
Massachusetts 150,816,939 $470,804,598.82
New Hampshire 39,562,113 $126,890,112.04
New York 345,471,912 $1,073,310,772.10
Rhode Island 17,562,748 $59,596,886.33
Vermont 6,903,063 $ 21,435,324.75
Total for Participating States 869,840,820.00 $2,722,520,739.82
New Jersey* 48,483,770 $113,344,551.27
Total 918,324,590.00 $2,835,865,291.09

 

* See New Jersey’s Notice of Withdrawal of Agreement to the RGGI MOU.