Name of Program

Tradable Unit Name and Acronym

Participants/Buyers

Unit of Measurement

ERs to Date (M mtCO2e)*

Projected ERs by 2012 (M  mtCO2e)*

Indicative Prices (USD/metric ton) §

International offset mechanisms

Clean Development Mechanism

Certified Emissions Reduction (CER)

Public and private entities within the jurisdiction of Kyoto Protocol member countries; other entities may use/retire them under voluntary offset programs

metric

286 (5/09)

> 2,900

2008 average price USD 16.78 (€11.46)
16% increase over 2007 prices
Primary and secondary CER prices converged in 2009. †

Joint Implementation

Emissions Reduction Unit (ERU)

Same as CDM

metric

1.2 (7/09)

342

2008: average ERU price USD 14.56 (€9.95)†

Offset features of mandatory cap-and-trade systems

European Union Emissions Trading Scheme

EU Allowances (EUA) and CERs and ERUs

Public and private entities within the jurisdiction of the EU-ETS

metric

N/A

N/A

EUAs in 2008/9 highly volatile:
8/08: €28.73;
2/09: €7.96
2009 average: €10-15†
For offset prices, see CDM and JI

Regional Greenhouse Gas Initiative

RGGI Allowances (RGGA) and
CO2 Offset Allowances

Compliance entities in the region

Short

n.d.

n.d.

RGGA: US$3.90 per short tCO2e†

n.d. for offset prices

Western Climate Initiative

Under development

Under development. Expected to be compliance entities in the region

Not yet specified

n.d.

n.d.

n.d.

Midwest Greenhouse Gas Reduction Accord

Under development

Under development. Expected to be compliance entities in the region

Not yet specified

n.d.

n.d.

n.d.

Canada’s Offset System for Greenhouse Gases

Offset credit

Compliance entities in the nation and/or for the voluntary market

metric

n.d.

n.d.

n.d.

Australian Carbon Pollution Abatement Scheme

Under development

Under development. Expected to be compliance entities in the nation

metric

n.d.

n.d.

Prime Minister Rudd announced May 4, 2009, AU would set fixed allowance price of
AUD 10 (about USD 7) for first year of operation (2011)†

New South Wales Greenhouse Gas Reduction Scheme

NSW GHG Abatement Certificates (NGACs)

Compliance and elective entities in the state

metric

90 (5/09)

n.d. 

Prices declined
from AUD 7-8 fall 08 to AUD 3 spring 09†

Offset features of voluntary cap and trade systems

Chicago Climate Exchange

Carbon Financial Investments (CFI)#

CCX members and non-members such as offset brokers

metric

registered 60 (3/09)

n.d.

CFI prices:
2008 average: USD 4††

5/08: USD 7.00
9/08: USD 2†

6/09:
USD 0.9-1.2‡

Offset features of other GHG systems

Alberta Offset System

Alberta-based offset credit

Compliance entities in the province

metric

2.75 (3/09)

n.d.

n.d.

State power plant rules (OR, WA, MA)

OR: CO2 offsets

Compliance entities in the state

short

OR: 1.5

n.d.

OR: USD 1.40

WA: Carbon credits

WA: USD 1.60

MA : GHG Credits

MA: USD 5

British Columbia Emission Offset Regulation

Emission reductions and removals

Provincial public sector organizations

metric

0

0.3 (through 2014)

n.d.

Climate Leaders 

External GHG reductions

Climate Leaders partners

metric

n.d.

n.d.

N/A

GHG Accounting Protocols 

WBCSD/WRI GHG Protocol for Project Accounting 

N/A

N/A

N/A

N/A

N/A

N/A

ISO 14064

N/A

N/A

N/A

N/A

N/A

N/A

Voluntary standards for offset projects and retailers

Climate Action Reserve

Climate Reserve Tonnes (CRTs) "Carrot"

Individuals, nonprofit organizations, government agencies and businesses.

metric

6/09: 75 total projects, including 9 registered, 51 listed (accepted by the Reserve as eligible). 

N/A

CRT prices 2008/09: US$5.00 -US$14.00†
2008 average: US$8.9††

Gold Standard

GS CER and  GS VER

Offset retailers, providers, individuals, organizations and businesses

metric

Retired VER credits as of 3/09: 0.45 mMtCO2e

n.d.

Average premium GS VERs: 20–100% above comparable VERs GS CERs: 5–25% above regular CERs
2008 average: US$14.4††
4/09 price GS VER: €8.38 (07/08 vintage); €5.75 (future vintages)**

Voluntary Carbon Standard 2007

Voluntary Carbon Unit (VCU)

Voluntary offset retailers and providers, individuals, organizations and businesses.

metric

n.d.

10–20

2008 average: US$5.5##
4/09 price VCU: €2.75 (07/08 vintage, industrial)- €4 (future vintages, renewables)†

VER+

VER

Voluntary offset retailers and providers, organizations and businesses.

metric

n.d.

n.d.

2008 average: US$5.8††
4/09 price VER+: €3.25 (07/08 vintage)†

American Carbon Registry

Emission Reduction Tons (ERTs)

Corporate pre-compliance buyers, hedge funds, carbon retailers and non-profits.

metric

30 (1997-2008)

n.d.

N.A.

Climate Community and Biodiversity Standards

N/A

Individuals, nonprofit organizations, and businesses.

metric

n.d.

n.d.

2008 average: US$9††

Plan Vivo

Plan Vivo Certificates

Individuals, nonprofit organizations, and businesses.

metric

n.d.

n.d.

2008 average US$5.6††

Social Carbon Methodology

Individuals, nonprofit organizations, and businesses.

metric

n.d.

n.d.

2008 average US$7.4††

Green-e Climate Protocol for Renewable Energy 

VER

Offset retailers, individuals, organizations and businesses

metric

n.d.

n.d.

n.d.

Green-e Climate Program

VER and CER

Carbon offset retailers

(varies by program certified)

n.d.

n.d.

Varies by offset retailer

Carbon Finance Funds

World Bank Carbon Finance Funds

CER and ERU

Government agencies and private sector companies

metric

6.9

300

n.d.