A gas vent at a landfill siteSigns deal with TerraPass Essent Trading, the trading arm of Dutch energy company Essent, and TerraPass Inc, San Francisco-based carbon offset originator, have signed an agreement by which the former will buy Verified Emissions Reductions from a Landfill Gas Recovery project in Jackson, Nebraska.
Essent Trading is one of the first European energy companies to become active in the US offset market, in anticipation of the US federal cap-and-trade scheme, which is poised to become the leading emissions market worldwide.
The offset project captures methane from a rural landfill that would otherwise be released into the atmosphere and pipes it to a local ethanol plant. The methane is then destroyed in a thermal oxidizer or in a backup flare. Thus, the project reduces harmful greenhouse gas emissions and provides social and environmental benefits to the local community. The project facility is owned and operated by LP Gill Inc, a waste management company in Nebraska.
The project has been listed on the Climate Action Reserve (CAR), the leading offset certification programme in the US carbon market, which is endorsed by both environmental and industrial communities.
Said Remco Frenken, Senior Vice President of Global Commodities at Essent Trading. “We believe that the US will commit to fighting climate change and play a leading role in the upcoming international climate regime,” Frenken added. “As a major trader in European allowances, Kyoto instruments and voluntary carbon credits, we see expanding to the US market as a natural step for us.”
Mark Mondik, CFO, TerraPass, said: “TerraPass is establishing itself as a leader in US carbon origination with a deep understanding of quality and standards. We’re pleased that this is recognized by others in the industry.”
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