State of Voluntary Carbon Markets 2011 Report Credits Lee International Developed Project

Maine weatherization for carbon credits project was first to use VCS benchmark developed by Maine Housing under leadership of Lee International

AUGUSTA, ME — State of the Voluntary Carbon Markets 2011, a publication of Forest Trends’ Ecosystem Marketplace and Bloomberg New Energy Finance, now in its fifth year, tracks trading volumes, credit prices, project types, locations, and the motivations of buyers in the voluntary carbon market.

The report, launched at Carbon Expo this month in Barcelona, includes mention of the home weatherization methodology, developed by MaineHousing's team of Dale McCormick, Director of MaineHousing, who initiated the project and lead consultant Cathy Lee of Lee International along with Climate Focus of the Netherlands and consultant Lucy Van Hook.

Download the report: Back to the Future, State of the Voluntary Carbon Markets 2011

The project is cited as being the first to use the benchmark approach under the VCS. CEO David Antonioli says the markets’ use of new approaches to additionality is “literally paradigm shifting – getting people away from this idea that you have to operate on a project-by-project basis, so you can begin to really scale up small interventions.”

The methodology, developed by MaineHousing, is the first approach approved by VCS to incentivize weatherization of homes. Using the methodology, a range of energy efficiency measures such as adding insulation, replacing appliances and enhancing efficiency of heating/cooling systems can be adopted by homes owners. The methodology uses an innovative performance benchmark approach to crediting carbon reduction efforts. Weatherized homes that achieve energy efficiencies beyond a pre-determined benchmark are eligible for carbon credits.

Learn more about the weatherization methodology here.

Cathy Lee of Lee International was a key member of the MaineHousing Carbon Quantification Project, which also includes Jo-Ann Choate of MaineHousing, consultant Lucy Van Hook, and Sandra Greiner and Bamshad Houshyani of the Climate Focus consulting firm. The Ford Foundation and the housing finance agencies of New Jersey and Pennsylvania provided financial support, and the Oakridge National Laboratory and the Harvard University Environmental Law Clinic provided technical support.