California Moves to Revoke Carbon Credits After Inquiry
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California, operator of the nation’s biggest carbon market, plans to revoke offset credits issued to EOS Climate Inc. and Environmental Credit Corp. for ozone-depleting substances destroyed at a plant in violation of its federal permit.
The companies operated projects that delivered refrigerants, proven to destroy the earth’s ozone layer, to a Clean Harbors Inc. complex in El Dorado, Arkansas, for disposal. California is proposing to invalidate 231,154 of the credits they generated from the projects in 2012 because the El Dorado plant was found to be selling a brine byproduct instead of disposing of it as federal law requires.