Platts proposes to move the annual roll for reflected vintages to first working day of Q3

Platts, a division of S&P Global Commodity Insights, proposes to amend the annual roll for the vintages reflected in its Voluntary Carbon Credit assessments to the first working day of Q3 from the start of 2023 onward.

Currently, Platts methodology rolls on the first working day of the new year, with all assessments reflecting new vintages. For example, under the current methodology, the Platts Household Devices assessment reflects vintages from the last four years, including current year, which is 2019-2022. On Jan. 3, 2023, this would have updated to 2020-2023. Under this proposal, instead of updating the vintages reflected in its methodology on Jan. 3, 2023, Platts would instead update the vintages reflected from July 3, 2023. In the above example, on Jan. 3, 2023, Platts Household Devices would continue to reflect vintages from 2019 to 2022, and would only roll to reflecting vintages 2020 to 2023 on July 3, 2023. This proposal follows on from the Platts Voluntary Carbon Markets methodology consultation here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/062822-platts-to-launch-voluntary-carbon-markets-methodology-consultation. As part of the consultation, Platts sought feedback from market participants on various elements that make up the Platts voluntary carbon credit methodology. The feedback was sought as part of the process to ensure the Platts assessments reflect the fast-evolving market. This proposal has been made following both research as well as market feedback, which shows that credits reflecting current year vintage are not available for most product types until later in the calendar year, following the verification of individual project emissions data. While credits for current year vintages for some project types are available promptly into the new year Renewable Energy and Methane Collection, for example current year vintage credits from other types of projects Agriculture, Forestry & Land Use (AFOLU) and Household Devices projects, for example typically take longer to verify. Please send any feedback to Platts_Carbon@spglobal.com and pricegroup@spglobal.com by Nov. 19, 2022. For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.