Des Moines, Iowa [RenewableEnergyAccess.com] FCStone Carbon, LLC and the U.S. Department of Energy’s Argonne National Laboratory are working together to quantify biofuel carbon credit reductions and trading in the marketplace.
Argonne, which is managed by the University of Chicago Argonne, LLC for the U.S. Department of Energy’s Office of Science, acts as a certified third party agency, quantifying how many carbon credits a facility can offer by using its total energy- cycle software model, GREET (Greenhouse gases, Regulated Emissions and Energy use in Transportation).
“As Argonne implements this technology into the biofuels industry, credibility will rise and the green energy market will expand,” said Dick Lindgren, president of FCStone Carbon, which has assumed funding of this project for the next three years. “As protocols and methodologies are established in the biofuel industry, biofuel plants and facilities will have the opportunity to contribute many new carbon credits to this burgeoning market,” said Lindgren.
Last year more than $28 billion in carbon credits was traded worldwide.
The United States does not currently adhere to the Kyoto Protocols, which set quotas for the European Climate Exchange. But an increasing number of cities, states and regions in the U.S. have initiated carbon credit registrations and exchanges on a voluntary basis. “Our opinion is that a national cap and trade system will be initiated. We expect that by 2010 we should see a lot more direction from a legislative or regulatory standpoint,” said Lindgren.