Agenda - 02-17-2009 - 4l - Laserfiche WebLink

Browse Search

Protocol for the Voluntary Reporting Program published by The Climate Registry, then the University shall reduce the payment due the County in the Monthly Billing Statement for such month by an amount equal to twenty-five percent (25%) of the product that results from multiplying (i) the lesser of the Average Allowance Market Price or the Forecasted Carbon Price for such month by (ii)the difference between the number of metric tons of CO2e destroyed by the LFG Project calculated by reference to a GWP of twenty-one (21) and the number of metric tons of CO2e destroyed by the LFG Project calculated by reference to a GWP of nineteen(19) or less. A sample calculation is provided in Exhibit G. 124. Adjustments for Other Environmental Benefits. The economic benefit of this Agreement is based in part upon the value of Carbon Credits. The Parties recognize that during the Term of this Agreement, other Environmental Benefits may be generated through the University's operation of the LFG Project, particularly as they relate to the market for renewable energy. The Parties further recognize that the current state of the market for such Environmental Benefits is unsettled with respect to whether, and to what extent, other Environmental Benefits may become available that are associated with the operation of the LFG Project. The Parties recognize that during the Term of this Agreement, new Laws, guidance, voluntary standards or comparable directives may be issued that clarify the respective valuation protocols for various Environmental Benefits associated with the LFG Project. 125. In consultation with the County, the University shall, on an ongoing basis, determine if the categorization of Environmental Benefits associated with the LFG Project in ways other than as Carbon Credits would result in additional revenue to the County without compromising either the University's ability to derive environmental benefit through the 40 (00018638.DOC 24)