The Climate Trust Shares CO2 Offsets with Seattle City Light

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The Climate Trust Shares CO2 Offsets with Seattle City Light

Largest Transaction to date in the Climate Trust's Partnership Program

OREGON, PORTLAND, Jan. 21 -/E-Wire/-- The Climate Trust of Portland, Ore. today will transfer the rights of up to 52,500 metric tons of carbon dioxide (CO2) to Seattle City Light (SCL) of Seattle, WA at a cost of $102,375 or $1.95 per metric ton. The transaction is the largest to date under The Climate Trust's recently launched "Greenhouse Gas Offset Partnership Program" and will be consummated this afternoon with the approval of Seattle's City Council.

Under the agreement, The Climate Trust and City Light, Seattle's municipal electric utility, will share in the costs and benefits of an innovative blended cement project that will reduce CO2 emissions over the next six years. The project is part of The Climate Trust's recent $6 million offset solicitation and acquisition effort. The project is managed by the Civil Engineering Research Foundation (CERF) based in Washington, DC and will deliver a total of 350,000 metric tons at a total cost of $682,500.

CERF's work will increase the use of low-carbon cement alternatives in concrete, commonly known as "blended" cements. The manufacturing of conventional cement is extremely CO2 intensive; one ton of cement results in approximately one ton of CO2 released into the Earth's atmosphere. Industrial byproducts that posses the same binding properties of cement can be a partial substitute for conventional cement in concrete mixes, and can reduce the amount of CO2 released by nearly one-half. Because substitutes for conventional cement are often readily available, blended cements can also bring real savings to the construction industry.

"The Climate Trust is very pleased to provide high quality CO2 offsets in support of the leadership position Seattle City Light has taken on combating global climate change," said Bill Edmonds, Board Chair of The Climate Trust."It's a win-win for the environment and the economy," said Seattle City Light Superintendent Gary Zarker. "Waste substitutes can make a superior cement product at a low cost, conserve raw materials, and reduce greenhouse gas emissions."

Blended cements are already widely used in Europe and Japan. "This project will begin to transform the U.S. construction market by creating market demand for blended cement," said Mike Burnett, executive director of The Climate Trust. "The potential to mitigate CO2 emissions from concrete production is substantial since cement production accounts for 7 percent of worldwide anthropocentric caused greenhouse gas emissions."

In SCL's first effort toward reducing greenhouse gas emissions, they will fund 15% of the total project costs through The Climate Trust's Greenhouse Gas Partnership Program. Seattle City Councilmember Heidi Willis said, "Global warming is a reality, and local governments are in the forefront of efforts to fight it." Seattle City Light is striving to become the first carbon neutral utility in the U.S. They have sustained a high level of investment in energy efficiency, renewable energies, and are investing in greenhouse gas offsets as well.

In 2001, Seattle City Light became The Climate Trust's first Greenhouse Gas Offset Acquisition Partner to jointly solicit carbon-offset proposals that directly avoid, displace, or sequester greenhouse gasses.

The Climate Trust's Partnership Program is also delivering high quality offsets through investments in high quality projects to the State of Massachusetts's Energy Facility Siting Council, the Nike Corporation, Progressive Investment Management of Portland, Ore. and Green Mountain Energy of Austin, TX.

About The Climate Trust - The Climate Trust is a nonprofit organization formed in 1997 in response to landmark Oregon legislation requiring new power plants to counter their global warming impact. This innovative legislation allows power plant developers to meet this carbon dioxide (CO2) emission standard by making a payment to The Climate Trust, which uses the funds to stimulate projects that avoid, displace or sequester CO2 emissions. These projects are called offsets because they offset the production of CO2 from new Oregon power plants. This project was chosen for funding from The Climate Trust's 2001 solicitation for offset projects. Further information about this and other offset projects funded by The Climate Trust is available at www.climatetrust.org.

About Seattle City Light- Seattle City Light is a Seattle-owned public power electric utility governed by Seattle's Mayor and City Council. Created by the citizens of Seattle in 1902, Seattle City Light provides affordable, reliable, environmentally sound electric power to the City of Seattle and neighboring suburbs. Seattle City Light are a recognized national leader in energy efficiency and environmental stewardship.

About the Civil Engineering Research Foundation - CERF is a nonprofit organization focused on constructing an efficient and renewable future. In collaboration with the construction, engineering, and environmental industries, CERF promotes and facilitates the advancement of innovation for a sustainable infrastructure. CERF strives to bring about market transformation and move institutions toward a sustainable future through training and technical assistance.

Michael Ashford, Deputy Director, The Climate Trust. Tel: (503) 238-1915;

email: [REDACTED-EMAIL];

mailing address: 516 SE Morrison St., Suite 300, Portland, OR 97212, website

http:// www.climatetrust.org

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