American Clean Energy and Security Act

Citola provides carbon offsets, provisioned through forestry mechanisms, to organisations who have anticipated compliance requirements in a USA Emissions Trading Scheme (ETS) or subsequent legislation. The carbon offsets are delivered according to a Framework Agreement over a pre-determined price and timetable (generally 10-25 years).

Citola carbon forestry projects are independently verified and designed to satisfy the additionality test under the Kyoto protocol which ensures project eligibility for carbon offset verification under recognised international carbon standards such as the Voluntary Carbon Standard (VCS) or Carbon Fix.  See Projects

We work with US organisations to provide verifiable carbon offsets to support voluntary action or carbon liabilities under proposed emissions trading schemes.

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About the Waxman-Markey Bill

The Waxman-Markey Climate and Energy Bill (American Clean Energy and Security Act of 2010) is the initiative of the USA Obama administration to reduce greenhouse gas emissions and US dependence on fossil fuels.
 
The bill creates a renewable electricity standard (RES) that requires large energy utilities to produce an increasing percentage of their electricity from renewable sources.  It also requires high-emitting industries to reduce their output of greenhouse gas emissions to specific targets or ‘caps’.  The bill will cover 85% of the total emissions of the United States including electricity producers, oil refineries, natural gas suppliers and energy-intensive manufacturing industries like.
 
Compliance organisations will need to acquire a specific number of carbon permits that correspond to the amount of carbon pollution they are allowed to emit or face fines of two times the fair market value of the permits it should have purchased.
 
Compliance organisations can purchase carbon offsets as part of their compliance requirements under the bill from either domestic or international projects.  It is estimated that carbon offsets could account for up to 2 billion tons of emission reductions each year and international offsets could account for 75% of total offsets.