January 22, 2014
Christmas came early for The Climate Trust when it earned a nearly $8 million commitment from Portland General Electric last December. Portland General Electric is entrusting The Climate Trust to meet the greenhouse gas mitigation requirement for the Carty Generation Station that recently began construction. This mitigation commitment is a requirement in Oregon’s Power Plant Siting standard.
Oregon became one of the first states to blaze a trail on addressing climate change when it enacted this greenhouse gas mitigation requirement in the mid-1990s.The Climate Trust was specifically created to be a steward of this commitment. With the addition of the Carty funds, The Climate Trust has received over $30 million from the Oregon Standard. Building off the Oregon program, The Climate Trust has pioneered several firsts in the offset market and has committed almost $19 million to innovative emission reductions projects that are expected to remove annual emissions equivalent to almost one million vehicles.
As we start 2014, The Climate Trust will be reaching out to the market to build an innovative emission reduction portfolio for the Carty facility in the agriculture, biogas and forestry sectors with an emphasis on supporting innovation in Oregon.