Westport announces the first global carbon finance program for transportation registered to the Voluntary Carbon Standard; awaiting validation.
Westport Innovations Inc., a provider of alternative fuel, low-emissions transportation technologies, has launched a program to monetize the carbon emission reductions associated with Cummins Westport (CWI) and Westport HD natural gas engines, in collaboration with Grütter Consulting. The Westport Carbon Project (WCP) is in the process of being registered with the Voluntary Carbon Market Standard (VCS) and will reportedly be the first VCS transport project and one of the largest voluntary carbon market projects worldwide. The use of liquefied natural gas (LNG), compressed natural gas (CNG) or biomethane (purified biogas) provides heavy-duty trucks greenhouse gas emissions reductions of more than 20% compared to conventional powered diesel trucks and buses.
Westport and CWI natural gas powered vehicles sold since January 01, 2009 will be eligible for carbon credits based on an agreed price per tonne. Current carbon credits for this type of emission reduction program can receive up to $25 per tonne.
“Westport strives to offer heavy-duty vehicle engines with leading environmental performance,” said Karen Hamberg, Director of Sustainability and Environmental Performance for Westport. “The WCP validates the emissions reduction benefits of natural gas engines and further supports the economic and environmental value proposition we offer to customers.”
Vehicles sold to fleet owners in various countries worldwide including the USA, Australia, Canada and China will be included in the WCP.
Emission reduction calculations are based on an UNFCCC (United Nations Framework for Climate Change Convention) approved methodology. The project documentation is currently being reviewed by SQS, a Swiss entity certified by UNFCCC for the validation of climate change projects in the transport field. Upon successful validation and verification the project will be registered as a VCS climate change project and thus vehicles equipped with the Westport engines will be eligible for carbon credits.
Voluntary Carbon Standard (VCS)
The VCS was developed by The Climate Group, the International Emissions Trading Association (IETA), and the World Business Council for Sustainable Development (WBCSD) with input from a range of business, government and non-government organizations. It was established to provide a rigourous, trustworthy, and innovative global standard and validation and verification program for voluntary greenhouse gas offsets. All voluntary carbon units (VCU) are real, measurable, permanent, additional, conservative, independently verified, unique and transparent.
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