The Colorado Governor's Energy Office (GEO) has selected The Climate Trust to implement the Colorado Carbon Fund, a ground-breaking program that will further advance Colorado to a New Energy Economy. The Colorado Carbon Fund will provide high quality, verifiable carbon offsets for consumers concerned about climate change.
Consumers can mitigate their own carbon emissions by helping to fund offset projects, which quantifiably reduce greenhouse gases from the atmosphere. The Colorado Carbon Fund will only spend funds on greenhouse gas reduction projects that are developed in Colorado.
“GEO selected The Climate Trust to design its Colorado Carbon Fund and engage individuals, businesses, and government agencies in purchasing Colorado-based, verifiable carbon offsets that will reduce their carbon footprint,” said Tom Plant, GEO Director. “Carbon offsets are a part of a three step process for consumers to engage in a sustainable energy lifestyle. First is measurement of emissions; second is reduction of emissions through efficiency and renewable energy; third is offset of the remaining emissions through the Colorado Carbon Fund. Taken as a package, the Colorado Carbon Fund’s voluntary carbon offsets will help us to meet our greenhouse gas emissions goals from the state’s Climate Action Plan.”
The Climate Trust will work with GEO staff over the next several months to develop the framework for the Colorado Carbon Fund including defining funding opportunities for in-state offset projects, developing web-based carbon footprint calculators, and creating the offset tracking and retirement system. The official launch of the Colorado Carbon Fund is anticipated for late summer 2008.
Colorado residents who offset over 50% of their vehicle’s emissions will qualify to purchase a “Carbon Neutral Colorado” license plate through legislation recently passed by the Colorado General Assembly.
The Colorado Carbon Fund is key component in the state’s Climate Action Plan and seeks to advance the following objectives:
- Develop a funding source for community-based clean energy and climate mitigation projects;
- Direct investment monies towards Colorado-based projects;
- Support Colorado’s climate change mitigation objectives; and
- Provide high quality, credible offsets for individuals, businesses and government agencies interested in mitigating their carbon footprint.
“The Colorado Carbon Fund is a monumental development in addressing climate change. We applaud Governor Ritter’s vision and leadership in establishing a first of its kind carbon fund,” said Mike Burnett, Executive Director of The Climate Trust.