Green Carbon Bank
Instructions, Legal and Privacy
The Green Carbon Dioxide Offset Bank (Green Carbon Bank) (GCB) is a service that allows participants to reduce their "carbon footprint," the total carbon dioxide emissions created by driving, flying, using electricity and other activities. Nuclear power plants, like hydro and wind, do not emit any greenhouse or smog forming gases. Every time a carbon dioxide credit is purchased via the GCB, the credit holder will be designated with an equilavent fission credit certifying that the holder purchased emission free energy.
GCB's carbon dioxide credits are based on uprates at nuclear power plants subsequent to October 1, 2006, fission futures from new nuclear power plants and power plant license renewals. Uprates are increases in capacity factors at power plants. Fission carbon dioxide offset futures (fission futures) (FF), will be available upon submittal of applications to the NRC for license renewals, uprates and new nuclear power plants. GCB funds promote the creation of new sources of emission-free electricity. These offsets are for new sources of emission free production of electricity. In addition to carbon dioxide, offsets can be taken for methane, sulfur dioxide, nitrogen oxides and mercury.
Green Power is also available through the GCB. GCB Green Power is available through independent power suppliers at a rate of 15 cents per kilowatt hour (KWH). GCB will receive 1.5 cents per KWH from the independent power supplier for each customer referral. GCB Green Power income is used to promote the production of additional Green Power.
Clients can use an estimate of their emission offsets by using the rates and the chart below. Contact the GCB Teller by email to send a notice of intent to purchase carbon dioxide or other offsets via a Deposit, or checks should be payable to: Green Carbon Bank and mailed to 9903 Caltor Lane, Ft. Washington, MD 20744. Questions: call (301) 265-8185. A receipt will be sent upon request certifying the deposit to offset carbon dioxide emissions. Deposits and depositors will be listed publicly unless the depositor requests privacy. Click on the Deposit page and follow the instructions.
Clients calculate their own emissions reductions. Use the prices on the GCB Home Page Template (also below) and multiply them by the estimated travel distance and the mode of travel. Tons for methane, sulfur dioxide, nitrogen oxides, mercury, and HFC-23 can only be purchased in units of 200. Clients have the option of using the GCB general fee posted on the home page or by the specific compound or element listed below:
Plane: 5 cents per mile
Car: 1 cent per mile or $ .20 per gallon
House: $ 1 per day
Business: $ 1 per day
|Compound/Element||Price Per Pound||Price Per Ton|
|Carbon Dioxide||$ .01||$ 20|
|Methane||$ 1||$ 10|
|Sulfur Dioxide||$ 1||$ 10|
|Nitrogen Oxides||$ 1||$ 10|
|Mercury||$ 1||$ 10|
|HFC-23||$ 1||$ 10|
|Green Power||15 Cents Per KWH|
Banking Carbon Dioxide Emissions
A deposit in the Green Carbon Bank (GCB) results in reductions in carbon dioxide emissions elsewhere by funding fission energy projects, such as education programs and outreach projects related to nuclear power. Fission energy reduces carbon dioxide emissions by displacing power generated from fossil fuels. GCB will also encourage coal, natural gas, and petroleum industries to purchase carbon dioxide offsets.
Certification and Verification
GCB offsets are certified by agreements with participating electricity providers. Agreement letters are publicly listed for review. The GCB will maintain an adequate portfolio of offsets through agreements from offset providers to meet all requests for offsets. These offsets are based on uprates, license renewals and new nuclear power plants and the agreements from providers noting the level of offsets provided due to the activities of GCB affiliates. GCB is also seeking certification for certain projects under the Kyoto Protocol's Clean Development Mechanism. Offsets will be verified by the Center for Environment, Commerce and Energy and participating offset providers.
EPA Greenhouse Gas Calculators
GCB shall hold harmless all users of this service in the event of any suit arising out of the activities of GCB or its subagents. All users of the GCB service shall hold harmless GCB, its agents, subagents and assigns in the event of any suit arising out of the activities of any user.
By using the GCB service, you agree to the conditions described in the Instructions, Legal and Privacy sections. This Agreement contains the entire understanding of the parties and supersedes all previous verbal and written agreements; there are no other agreements, representations, or warranties not set forth herein.
GCB warrants that the performance of the services and the use of any deliverables will comply with all applicable laws, rules, orders and regulations.
GCB is a project of the Center for Environment, Commerce & Energy. All rights reserved.
Any personal information listed at the GCB is private and will not be shared with anyone at any time for any reason without written consent from the client.
Confidentiality. GCB understands that information and records about participants that is provided to GCB are confidential and shall not be used for any purpose other than to perform the required services. Regardless of the data format, GCB agrees that it, and any of its employees or consultants, will not disclose or allow disclosure of any such data or derivatives of it to any third party without the written permission of user. .
We take reasonable steps to protect personal and identifiable information as information is transmited from the client's computer to the GCB site and to protect such information from loss, misuse, unauthorized access, disclosure, alteration, or destruction.
The Green Carbon Bank offsets are based on the reduction or elimination of greenhouse, smog, acid rain forming, and toxic emissions due to the operation of nuclear power plants. The offsets are also based on activities by GCB affiliates that assist in enabling the creation of new sources of emission free electricity. Revenues from the GCB also support the operation of the Carbon Mercantile Exchange.
The State of California and the Regional Greenhouse Gas Initiative (RGGI) chose to reject the use of nuclear power as an offset mechanism. We disagree with these decisions. RGGI is a mandatory cap-and-trade program designed by Northeast states to reduce carbon dioxide emissions at power plants by 10 percent by 2019. The California law is designed to reduce its emissions to 1990 levels by 2020, a cut of about 25 percent We do not believe they can meet their targets without utilizing new nuclear power offsets. The Kyoto Protocol seeks to reduce greenhouse gases but because India, China and the United States are not signatories, it will not work unless nuclear power and electric vehicles are universallly utilized through the Clean Development Mechanism. Thus, the public sector has designed programs that will not work.
The Green Carbon Bank is a private sector solution to a public sector shortcoming..