Mercuria Purchases First Carbon Credits for the RGGI Compliance Market
Houston, TX March 8, 2021 - Mercuria Energy America, a leading global energy and commodity trading organization, announced today that it has purchased the first carbon offsets generated for the Regional Greenhouse Gas Initiative (RGGI) compliance market. RGGI is a cooperative effort among the states of Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, and Vermont to cap and reduce power sector CO2 emissions.
A regulated entity can use carbon offset allowances to meet the remainder of its obligation. The RGGI states currently limit credit allowances to five project categories, all of which reduce or sequester emissions of CO2 or methane (CH4) within the ten-state region.
To source these carbon credits, Mercuria worked with 3Degrees, a firm that helps organizations around the world achieve renewable energy and decarbonization goals. 3Degrees currently manages the only offset project eligible to sell credits into the RGGI market, the New Beulah Landfill, a county-owned waste disposal facility in Dorchester County Maryland that generated these compliance credits.
Mercuria Energy Group Ltd. published this content on 08 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 March 2021 14:12:02 UTC.