Platts proposes to widen the vintages reflected in Platts CNC

Platts, part of S&P Global Commodity Insights, proposes an extension of the vintages reflected in the Platts CNC voluntary carbon credit assessment to include the past six years, including the current year, from Jan. 2, 2023.

Currently Platts CNC reflects nature-based credits with vintages over the past five years, including current year, meaning that CNC includes bids, offers and transactions with vintages from 2018-2022.

The 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.

The proposed change would widen the vintages reflected in the assessment and would capture a stronger alignment with volumes traded within the exchange-driven spot market, in line with market feedback.

For example, under current methodology, from January 2, 2023, Platts CNC would reflect credits of vintages of 2019-2023.

Under the proposed change, Platts would instead reflect credits of vintages from 2018 and above.

Platts does not publish separate values of different vintages for the CNC assessment, but rather reflects bids, offers, and trades in which a buyer agrees to take any suitable vintages Platts is also proposing to amend the annual roll of the vintages reflected in its assessments from the first working day of the new year to the first working day of Q3.

The proposal note is available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/102122-platts-proposes-to-move-the-annual-roll-for-reflected-vintages-to-first-working-day-of-q3

Please send any feedback to platts_carbon@spglobal.com and pricegroup@spglobal.com by Nov. 30.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.