TerraPass Carbon Management Services launches with 2.5 million credits under management
Press release:
TerraPass Inc.TM, a leading originator and retailer of carbon credits and carbon offsets, today released its 2009 carbon offset portfolio, including products for purchase through the TerraPass website (www.terrapass.com), and the TerraPass Carbon Balanced Business program (www.terrapass.com/business), and through partners including Expedia® (www.expedia.com), Enterprise Rent-A-Car (www.enterprise.com), National Car Rental (www.nationalcar.com) and Alamo Rent A Car (www.alamo.com).
TerraPass also announced the formation of TerraPass Carbon Management Services, under the leadership of Erin Craig, Vice President, TerraPass Carbon Management Services (CMS). TerraPass CMS originates U.S.-based carbon credits for sale in US voluntary and pre-compliance markets using high-quality standards such as the Voluntary Carbon Standard and the Climate Action Reserve (CCAR). The new initiative has already signed 10 long-term contracts representing over 2.5 million metric tons of carbon reductions, and has built a robust pipeline of new projects which should double the portfolio by the end of next year. More information on TerraPass Carbon Management Services is also available here.
The TerraPass CMS team focuses on originating small scale, U.S.-based projects such as landfill and agricultural methane abatement efforts, and plans to expand into related methodologies. Credits from the portfolio will be used both to satisfy TerraPass’ retail carbon offset purchase obligations and to help companies in the voluntary and pre-compliance carbon markets achieve their carbon footprint management goals.
The TerraPass 2009 carbon offset portfolio is the first to be drawn from a TerraPass-originated set of carbon credit projects, and as such represents a watershed moment in the company’s transformation from a consumer carbon offset retailer into a U.S.-based carbon credit originator.
“We are pleased to offer TerraPass individual and business customers this portfolio of high-quality carbon offset projects,” said Erik Blachford, TerraPass Inc. CEO. “Our TerraPass Carbon Management Services team has made great progress already, and we are excited by the opportunity to supply high-quality carbon credits to the voluntary, pre-compliance, and eventually compliance markets.”
