Two subsidiaries of California-based PG&E Corporation, U.S. Generating Company and PG&E Energy Trading, will transfer greenhouse gas reduction credits to the Barnard/Columbia Earth Coalition through Natsource Inc., an environmental emissions brokerage. This is the first sale between private industry and an environmental nonprofit and is one of a handful of greenhouse gas transactions
that have been performed worldwide.
The New York City-based student coalition will retire the credits,
ensuring they can’t be used to allow future emissions. The group raised
funds to pay for the transaction and the companies agreed to invest the
proceeds in greenhouse gas emission reduction measures.
The companies will transfer 10,000 greenhouse gas reduction credits to the non-profit. Each tradable unit is equal to one ton of carbon dioxide or CO2 equivalent reduced. USGEn earned the credits by taking voluntary actions under the federal government’s Climate Challenge program.
These actions include improvements to the efficiency of the company’s power
plants, operational changes such as fuel switching, and other efforts such
as methane recovery and a carbon sequestration forestry projects in
Malaysia.
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