The Delta Offsets Process
The Delta Carbon Program uses the following process to determine the eligibility of projects, register them with the Chicago Climate Exchange, and retire them after purchase. Each project that generates credits goes through an extensive and independent due diligence process by the Delta Institute and an independent third party verifier to be registered on the CCX.
Application
A farmer, landowner, or project owner sends in an application with required backup documentation to show proof of eligibility. Delta reviews each project on a case by case basis. Along with its own efforts to enroll projects that sequester carbon, Delta has partnered with many partners and government agencies to promote conservations practices and carbon sequestration including the creation of specific programs:
- The Illinois Conservation and Climate Initiative, www.illinoisclimate.org
- The Michigan Conservation and Climate Initiative, www.michiganclimate.org
- The Michigan Forest Carbon Trading and Offset Program
Approval
If the project meets the eligibility requirements, Delta approves the project and pools similar projects together. Projects have ranged in size from two acres to over 30,000 acres. The pooled projects are submitted to the CCX® for review.
Verification
The pool of projects undergoes verification by an independent, third-party organization and by the National Association of Securities Dealers as required by CCX® protocol.
Registration
The carbon credits are awarded to Delta in its CCX® Registry Account. The CCX® awards carbon credits in groups of 100 metric tons, called a Carbon Financial Instrument.
Sale
Individuals, events, organizations, businesses, and CCX® participants purchase carbon credits to offset their emissions. Currently, we charge $8.00 per metric ton. The revenue from the sales goes to the farmer, landowner, or project owner minus CCX® fees and our fee to cover our administrative costs (between 8-10% depending on the project type).
Retirement
When 100 metric tons are sold, Delta informs the CCX® to deduct those credits from its account. Those credits are permanently retired, meaning the 100 metric tons of greenhouse gases are removed from the atmosphere, and no one else can count them as their reductions.
