Notes Platts to launch Blue Carbon price from March 11, 2024

Platts, part S&P Global Commodity Insights, will launch two daily price assessments for carbon credits generated from Blue Carbon projects on March 11, 2024.

The assessments -- one for current-year delivery and one for Yr01 delivery -- will reflect the most competitive of the most fungible carbon credits issued by Blue Carbon projects that remove or sequester greenhouse gas emissions.

This decision follows a proposal published on Jan 8., 2024 , which can be found here.

The additional price assessments reflect the need for added price granularity in the global voluntary carbon market.

Platts defines blue carbon as any project that captures, removes or sequesters carbon through ocean or coastal ecosystems. This includes, but is not limited to, projects that remove carbon through coastal wetlands and mangroves, tidal and salt marshes and seagrass meadow restoration projects.

Blue Carbon credits are currently included in the Platts Natural Carbon Capture assessment. Going forward, Blue Carbon activity would be considered within its respective standalone assessments only.

Platts will launch outright price assessments for Blue Carbon with the following additional specifications:

• Volume range: 5,000 to 50,000/mtCO2e
• Vintage range: Each of the last five years, including the current year. For example, on March 11, 2024, the current-year assessment will consider vintages 2019-2023, rolling to 2020-2024 from July 1, 2024. The Yr01 assessment will consider vintages of each of the past three years, including current year and Yr01. For example, on March 11, 2024, the Yr01 assessment would consider vintages 2022-2024, rolling to 2023-2025 from July 1, 2024.
• Delivery: Current year delivery and delivery one year forward
• Co-benefits: Biodiversity SDGs as standard; credits with additional SDG co-benefits may be normalized.
• Reference basis: VCS-CCB Blue Carbon projects.

BECCS price assessments

Furthermore, Platts initially proposed to publish two new price assessments -- one for current-year delivery and one for Yr01 delivery -- for carbon credits generated from bioenergy with carbon capture and storage (BECCS) projects.

Platts is now extending the proposal stage to seek additional feedback until March 1, 2024.

The note extending the proposal period for the BECCS price assessment can be found here.

Details of the Platts carbon methodology and assessments are available here.

Please send any further feedback to platts_carbon@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.