OPIS by IHS Markit Launches New Price Assessments for Renewable Energy Certificates, Expanding Carbon Pricing Suite
Oil Price Information Service (OPIS) by IHS Markit announced the launch of new price assessments for Renewable Energy Certificates (REC), expanding its OPIS Carbon Market Report, its daily compliance carbon price discovery and transparency report.
The new assessments bring the OPIS compliance carbon pricing suite to over 100 indices, with additions including assessments for 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.
OPIS launched daily price transparency for compliance carbon markets in 2014, aiming to meet the demand for benchmark pricing for carbon and emissions programs. Late last year, the company launched the OPIS Global Carbon Offsets Report, a comprehensive daily pricing suite for global voluntary carbon offset credits. According to the company, the combined reports provide the largest compliance and voluntary carbon market price suite by any price reporting agency in the world.
The launch of the new assessments comes as state and local governments are increasing their clean energy targets, and implementing environmental programs that put a price on carbon as a strategy to reduce emissions. At the same time, companies are increasingly factoring the cost of carbon into business strategies and decisions.
Fred Rozell, President, OPIS by IHS Markit, said:
“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.”