National Carbon Offset Trading
Jo-Ann Choate
Carbon Trading Project Director
• New initiative to implement a National Carbon Trading Project.
• NASCSP is developing a national framework to measure carbon
emission reductions from weatherization activities and sell
carbon offsets in the voluntary carbon markets in compliance
with the Verified Carbon Standard (VCS).
• Purposes:
• Leverage additional funding for WAP
• Assist States to improve quality of services
• Expand the WAP network’s expertise beyond the low income
What is Carbon?
• The burning of fossil fuels leads to carbon emissions, green house
gases that absorb and emit radiation in the atmosphere.
• Carbon emissions come in many forms, including the pollution
from single and multi-family dwelling releasing CO2 in the
• 40% of energy used in the US goes to power commercial and
residential buildings.
• Half of that (20% of total) is for space heating and cooling.
Benefits of Weatherization
Reduces pollution in the atmosphere
Reduces dependence on fossil fuels
Reduces the cost of energy bills
Creates an opportunity to expand weatherization funds by selling
carbon offsets.
• Creates and sustains quality jobs.
What is an Offset?
• It is a way for a polluter to satisfy carbon emissions reduction
obligations without reducing carbon emissions.
• It is a way for a buyer (such as Chevy, universities, etc.) to help
reduce their carbon emissions .
• It is a way for a buyer to support a carbon emissions reduction
projects for social purposes, etc.
The Global Carbon Market
• Total Value in 2008: $126 billion.
• The Compliance Market was $120 billion in 2008 – Kyoto Protocol
including the Clean Development Mechanism (CDM) EU
Emissions Trading Scheme.
• The Voluntary Market was $705 million in 2008 and projected to
be $850 million in 2009.
• If the US implements a cap-and-trade system, the voluntary
market could reach $300 billion annually.
How Do States Start?
• States can choose to work with NASCSP.
• NASCSP will help states establish a process and streamline the
cost of implementing a carbon project by:
• Assisting states in establishing standards to identify carbon.
• Assisting States in ensuring data quality and monitoring.
• Ensuring savings from activities are proven.
• Assisting states with development of a Project Description.
• Working with states to keep cost low (Note: there will be cost
for each state to participate but at a very minimum amount
to implement the project and maintain the data).
Identify Scope and Plan for Project
Identify and Manage Carbon Data
Write Project Description
Validate Project Description
Verify Offsets
Register and Sell Offsets
Provide Carbon funds back to each State.
Current Activities
• To date, 17 states have signed up to participate in the program.
• NASCSP staff has begun the process of setting up systems to
review documents and questionnaires provided from each state.
• Developing the first Project Description (PD).
• Developing training webinars for participating states .
Jo-Ann L. Choate
Carbon Trading Project Director
[email protected]
Phone: 202.624-7859
Cell: 207-620-0209
Eric Stam
Carbon Trading Research Analyst
[email protected]
Phone 202.624-8828

WAP Carbon Trading Project - Weatherization Assistance Program