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OPIS by IHS Markit Expands Carbon Pricing Suite with Additional Transparency for World’s Largest Compliance Markets

OPIS by IHS Markit Expands Carbon Pricing Suite with Additional Transparency for World’s Largest Compliance Markets

September 01, 2021



Provides new assessments for Renewable Energy Certificates (REC) under U.S. East Coast Renewable Portfolio Standards (RPS) programs and comprehensive intelligence for compliance carbon markets featuring price transparency for 16 environmental programs in a single report

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OPIS, an IHS Markit (NYSE: INFO) company, the leading benchmark provider for emissions and carbon markets data, launches today an expansion to its extensive daily compliance carbon pricing services, providing the most transparency for the largest emissions programs in the world. The expansion of the OPIS Carbon Market Report extends the OPIS compliance carbon pricing suite to over 100 indices and provides solutions to stakeholders compliant with jurisdictional programs.

New price assessments include Renewable Energy Certificates in New Jersey, Pennsylvania, Maryland, Massachusetts and Connecticut, the New England Power Pool General Information System and PJM Environmental Information Services, as well as additional assessments for California’s Cap-and-Trade Program.

With rising awareness for the global climate challenge and in anticipation of the UN Climate Change Conference of the Parties (COP 26) in November, governments are deploying and strengthening environmental programs that put a price on carbon as a strategy to reduce emissions.

In the United States, 17 state and local governments have increased clean energy targets in their Renewable Portfolio Standards over the past three years. Meanwhile in 2021, California enforced new cap-and-trade regulations for carbon offsets, creating a separate market for credits that are issued to projects with a direct environmental benefit in the state. On the East Coast, the multi-state Regional Greenhouse Gas Initiative (RGGI) is drawing more participation, with Virginia becoming the 11th state in the cap-and-trade cooperative for power emissions this year. Pennsylvania is on deck to join RGGI in 2022.

“The call to action for global climate mitigation brought forth in the Paris Agreement sets the stage for all governments to adopt carbon policies that leverage market-based mechanisms,” said Fred Rozell, president, OPIS by IHS Markit. “Initiatives that put a price on carbon effectively reduce greenhouse gas emissions and create revenue for clean energy and environmental programs. The comprehensive OPIS suite of carbon assessments provides transparency for all sectors covered by regulatory programs and corporations engaged in voluntarily offsetting their carbon footprint through carbon credits.”

The OPIS Carbon Market Report includes daily price assessments and analysis for California Carbon Allowances, California Carbon Offsets, Regional Greenhouse Gas Initiative Allowances, U.S. Renewable Energy Certificates, California’s Low Carbon Fuel Standard, Oregon’s Clean Fuels Program, Quebec’s Cap-and-Trade System and the U.S. Renewable Fuel Standard. The report also provides carbon market pricing, insight and analysis for European Union Allowances, United Kingdom Allowances and China Carbon Emission Allowances.

OPIS launched daily price transparency for compliance carbon markets in 2014. It remains the price reporting agency benchmarked by the California transportation fuels industry for accurate cap-and-trade and Low Carbon Fuel Standard (LCFS) assessments.

The OPIS California Carbon Allowances (OPIS CCA) and Regional Greenhouse Gas Initiative Allowances (OPIS RGGI) assessments underly the IHS Markit Global Carbon Index (GLCARB), which serves as a benchmark to the KFA Global Carbon ETF (KRBN), launched in 2020. The green investment fund currently manages over $500 million in assets.

The OPIS Carbon Market Report publishes daily to meet the demand for benchmark pricing for carbon and emissions programs. The OPIS Carbon Market Report and the daily OPIS Global Carbon Offsets Report, which launched in December 2020, together provide the largest compliance and voluntary carbon market price suite by any price reporting agency in the world. The robust and comprehensive OPIS coverage of the carbon markets enables global project developers, traders, marketers and investors to accurately identify a fair value for their assets and understand compliance costs associated with carbon and emissions programs.

OPIS carbon assessments reflect confirmed bids, offers and trades reported by approved traders, brokers and electronic platforms. Full details about the OPIS voluntary and compliance carbon methodologies can be found in OPIS Carbon Market Pricing.

For further information about the OPIS Carbon Market Report, contact Lisa Street, director, global carbon pricing, OPIS by IHS Markit at Lisa.Street@ihsmarkit.com.

About OPIS (www.opisnet.com)

Oil Price Information Service (OPIS) by IHS Markit (NYSE: INFO) provides accurate pricing, real-time news and expert analysis across the global fuel supply chain. Leveraging data from its spot, rack and retail market sources, OPIS enables its customers to buy and sell oil, gas and petrochemical products with confidence across the globe.

About IHS Markit (www.ihsmarkit.com)

IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.

IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2021 IHS Markit Ltd. All rights reserved.

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