Platts launches Blue Carbon price from March 11, 2024

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

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

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.

The launch follows a decision published on Feb. 6, 2024 , which can be found here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/020624-notes-platts-to-launch-blue-carbon-price-from-march-11-2024.

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 will be considered within its respective standalone assessments only.

Platts launches 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.

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.

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