Item B: Community Climate and Energy Action Plan Update

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CE–ICAP* ITY OF UGENE NTERNAL LIMATE CTION LAN Use of emissions offsets to reach the Net-Zero Goal According to the Climate Trust “A greenhouse gas (GHG) offset is generated by the reduction, avoidance, or sequestration of GHG emissions from a specific project. Offsets are so named because they counteract or offset greenhouse gases that would have been emitted into the atmosphere; they are a 3 compensating equivalent for reductions made at a specific source of emissions.” It is clear from the council goal that the purchase of offsets is to be considered a secondary strategy to be used only after all practicable operational reductions have been made. The ICAP team recommends that the purchase of offsets be used only in the end-term (2020) of the action plan when the full impacts of previous actions have been determined. Cost for offsets are calculated based on the current price of Bonneville Environmental Foundation (BEF) offsets per metric tonne. BEF figures were used for this discussion because of the regional nature of their investment and third-party certification of offset quality. Expected 2020 Emissions after Annual Cost from 2020 forward Operational Emissions Reductions to offset remaining Emissions (present value) 4,005 metric tonnes CO2 $122,000 The cost of offsets can be reduced by expanding our emissions reduction efforts. We run the risk of committing financial resources to offsets that may not be needed to reach our goal if we begin those purchases before we have exhausted the potential of direct reductions. Initial discussions have been held with the University of Oregon and EWEB concerning the feasibility of developing a local offset mechanism in order to benefit the local economy. Although there does not currently appear to be sufficient demand for a local offset, the concept should be revisited in the second or third timeframe of the plan. Emissions offsets provide a method to quickly stimulate climate action, and the resulting economic activity. Use of offsets allows us to take the final step in achieving our Net-Zero goal within the timeframe of this action plan. Plan Progress Review It is recommended that a staff member be assigned to coordinate overall progress on the Internal Action Plan. Staff will be needed to: 3 Climate Trust: About Offsets at http://www.climatetrust.org/about_offsets.php 25 *Plan adopted as a framework; subject to additional edits. Plan may be modified pending implementation.