New Brunswick Landfill Gas Project First of its Kind in Canada Executes First Credit Sales

TORONTO--()--With CantorCO2e’s assistance, the Fredericton Region Solid Waste Commission (FRSWC) is seeing green. After voluntarily installing controls at its landfill and gaining recognition of its greenhouse gas reduction credits, FRSWC has completed initial sales of its newly minted greenhouse gas credits.

Earlier this year, with CantorCO2e’s assistance, FRSWC successfully registered its emission credits with the BlueRegistry. This culminated a process that included a rigorous independent validation and verification of the reductions, based on the United Nations’ Clean Development Mechanism (CDM) protocols. Achieving those goals allowed the FRSWC to successfully register VER+ offset credits on the BlueRegistry. The CDM-based VER+ certification standard allows climate change projects to carry out procedures of equivalent standard outside the Kyoto Protocol. The BlueRegistry serves as a contact point for registered project owners such as the FRSWC to sell verified emission credits.

Now the FRSWC has begun the monetization process. “With CantorCO2e’s assistance over 50000 tonnes have been transacted and more are in the works,” said Josh Margolis, CEO CantorCO2e. “Judging from the response so far, there is an unmet demand for Canadian reductions that are real, measurable and verifiable” concluded Mr. Margolis.

“The Fredericton Region Solid Waste Commission has maintained its commitment to provide vision and strong leadership in solid waste management” said FRSWC general manager and CEO Gordon Wilson. “We pride ourselves on our commitment to sustainability. This process indicates the almost $2-million the FRSWC spent will eventually pay for itself through the successful sale of emission credits. It is truly a Canadian success story from environmental and investment standpoints. We’re proud of the accomplishments of our senior staff, our commission and the region we serve.”

The leadership and effort of the FRSWC have enabled it to become Canada’s first GHG emission reduction project of any sort to qualify for a formal validation report against a CDM-based standard, such as VER+. The independent validation and verification were conducted by the UN accredited auditors DNV.

All the technical work and management of the emission crediting process were performed by CantorCO2e, a leading global provider of financial services in energy and environmental markets worldwide.

“We are thrilled to have been selected by the Commission to facilitate the validation and verification of Canada’s first carbon offset project verified using CDM protocols,” said CantorCO2e’s Mr.Margolis. “Our goals are aligned by bringing high quality VERs to the North American market.”

The $1.98-million LGMS project, which opened in December of 2006, showed dedication and commitment to sustainability to the approximate 120-square miles the FRSWC serves.

The FRSWC regularly collects between 75,000 and 80,000 tonnes of garbage a year.

Phase I of the operation was the design and construction of the LGMS. Phase II involves utilization of the gas to be used as a power generator.

About FRSWC

The Fredericton Region Solid Waste Commission (FRSWC) operates a state-of-the-art sanitary landfill, the first of its kind in New Brunswick, opened to the public in 1986.

Employing 50 full and part-time workers, the FRSWC is one of the most environmentally advanced and economically efficient landfills in the province.

A non-profit organization, the FRSWC operates on a tipping fee basis. The charge is based on weight determined by a weigh-in, weigh out process. The operation handles anywhere from 75,000,000 to 80,000,000 kilograms of solid waste annually.

About CantorCO2e

CantorCO2e is a leading global provider of financial services to the world’s environmental and energy markets. The firm matches environmental credit buyers and sellers, provides strategic consulting services, and offers access to finance and technology to clients engaged in using energy and managing emissions across the world.

CantorCO2e helps businesses manage financial aspects of their energy, and environmental choices. In addition to the Canadian markets we also serve voluntary and compliance environmental credit markets. We help companies transact via electronic trading screens, voice brokerage, auctions and negotiated contracts. In addition to spot transactions the firm arranges forward sales to enable project developers to fund their investments. In addition to environmental credits CantorCO2e also brokes ‘new’ and renewable energy products, advises equity investment funds on carbon finance, introduces investors to projects, help ‘clean-tech’ technology developers to manage their intellectual property and roll out their technologies through our global network. All in all, an integrated set of services to bring environmental commodities to market, and to help our clients manage their energy and environmental risks world-wide.

Contacts

Media for CantorCO2e:
Melanie Gordon-Felsman, 1-212-610-2314
mgordon@cantor.com

Contacts

Media for CantorCO2e:
Melanie Gordon-Felsman, 1-212-610-2314
mgordon@cantor.com