It also generates analytical content covering the allowance and carbon offset market, alongside tracking policy design and legal risks.
CUPERTINO, Calif., Feb. 14, 2020 /PRNewswire/ -- cKinetics, a global Sustainability Advisory firm with a specialized practice for Sustainability and Climate finance, announced its acquisition of CaliforniaCarbon.info, an emissions data analytics platform covering the Californian and Western Climate Initiative (WCI) carbon markets.
Launched in 2013, CaliforniaCarbon.info offers emissions data and price forecasts for all jurisdictions across the WCI carbon program. It also generates analytical content covering the allowance and carbon offset market, alongside tracking policy design and legal risks.
"As the climate change conversation becomes more mainstream, we see more countries and states replicating the carbon markets model being used in California. We see an opportunity to expand - CaliforniaCarbon.info into newer areas. As a first step in that direction, we plan to launch offerings related to the Low Carbon Fuel Standards Market soon. Our local presence will enable us to engage more closely with the entities in these carbon markets," said Upendra Bhatt, Managing Director of cKinetics, which has a presence in Cupertino, California.
The State of California has been a global leader in decarbonizing its economy. By 2030 it aims to reduce its GHG emissions to 40% below 1990 levels. The California cap and trade market trades an annual volume of over $14.7 billion worth of credits; and is one of the core enablers of the state's goals of greenhouse gas (GHG) reduction. The newer Low Carbon Fuel Standards (LCFS) market has rapidly grown and trades an annual volume of $ 2.7 billion. The LCFS program aims to reduce the carbon intensity of fuels by 20% before 2030. Due to the success it has seen with its measures, California is working with several other jurisdictions, to share its model.
"We are delighted to have engaged with cKinetics, as they reflect our vision for expanding the CaliforniaCarbon.info platform into a pre-eminent Climate Analytics leader globally," said Nitin Tanwar, Founder of CaliforniaCarbon.info. "Our customers have always been our top-most priority and we are happy that they will benefit from cKinetics' considerably larger resources and focus on Climate finance," added Tanwar.
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