Platts to launch CCP cookstoves sub-Saharan Africa assessments July 1

Platts, part of S&P Global Energy, will launch Core Carbon Principles (CCP)-labeled cookstoves sub-Saharan Africa price assessments, effective July 1.

This is in response to growing supply and demand for credits with a CCP label in the cookstoves segment of the carbon credits market.

Platts initially proposed the above assessments in a subscriber note published May 18.

CCP-labeled credits are issued from projects using methodologies approved by the Integrity Council for the Voluntary Carbon Market (ICVCM) and which have been verified and tagged by approved certifiers as meeting high integrity standards for effective governance, transparency, tracking and robust independent third-party verification, as outlined under the ICVCM's CCP.

These assessments will provide greater transparency for the emerging premium side of the cookstoves market.

Platts has observed a significant premium for CCP-labeled cookstove credits relative to non-CCP-labeled credits, driven by reductions in supply by revised fraction of Non-Renewable Biomass (fNRB) values calculated at a project level, as well as the perceived high-integrity value of these credits.

The price assessments will reflect the value of cookstove credits with a CCP label from sub-Saharan Africa, which Platts has observed as the primary region for developed and emerging supply, and a hub for liquidity.

Platts will launch the following assessments:

The assessments will reflect the following specifications:

• Registries & standards: Projects certified by Gold Standard (GS) and Verra (VCS)
• Vintage: 2022+, with no annual roll
• Volume: 5,000 to 100,000 metric tons of CO2 equivalent
• Currency: US dollar
• Unit of measurement: US dollars per mtCO2e ($/mtCO2e)
• Delivery and annual roll: Spot; assessments will roll on the first working day of the calendar year. For example, for assessments in January 2027, the Current Year assessments will reflect credits for delivery in 2027, and will roll to reflect 2028 delivery on Jan. 3, 2028.
• Frequency: Daily
• Time stamp: 1630 London time
• Platts publishing calendar: London

Platts will consider market information reported to Platts and published throughout the day, including firm bids, offers, trades and indicative values, as well as any other data deemed relevant up to the close of the assessment process at 1630 London time.

These daily assessments will be published in Carbon Markets Daily and S&P Global Energy Core in the service lines ETA and CMA. Monthly averages for the assessments listed above will be on CMA2011 and ETA2011, starting Aug. 1.

Further details on Platts' carbon assessment specifications can be found here.

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