Course 11 of 20 · Biofuels and SAF Desk Academy

Low-Carbon Fuel Credit Economics

Stage C, Funding and environmental entitlements. Level 5 of 10.

Carbon intensity scoring and the credit quantity and value arithmetic of deficit and credit generation under intensity-based programmes.

111 chapters · 10 modules · every chapter one 8 to 10 minute explainer · builds on: Course 04, Course 07, Course 10

Enrol or enquire See the 111 chapters
How a chapter is delivered

One chapter is one idea taken to the point of use

Each chapter covers one idea to the point where you can use it, and comes two ways: a narrated explainer, and a deep dive audio discussion of around thirty minutes that works the same material at depth.

Self-paced throughout, and the same chapters can be taught as a cohort. Chapters run in order: each one assumes only what the chapters before it taught, and capability belonging to a later course is named and deferred rather than half-covered.

Curriculum

10 modules · 111 chapters

Open any module for its full chapter list, in teaching order.

M0 What an Intensity-Based Programme Measures Ch 1-11
  1. From Volume Mandate to Intensity Obligation
  2. The Benchmark as a Published Line That Moves
  3. Scoring Below the Benchmark Earns Credits, Scoring Above It Owes Deficits
  4. Carbon Intensity Is a Ratio, Not a Total
  5. Energy Delivered as the Functional Unit
  6. The Regulated Party and the Credit Generator Are Not the Same Seat
  7. The Programmes That Score Fuel by Intensity
  8. Why Credits Count in Tonnes While Fuel Sells in Energy
  9. A Deliberately Simplified First Credit Calculation
  10. The Four Inputs Behind Any Credit Number
  11. Where Intensity Credit Work Ends and Other Desks Begin
M1 Reading a Life Cycle Intensity Score Ch 12-23
  1. The System Boundary a Fuel Score Is Drawn Around
  2. Feedstock Stage Emissions and What Drives Them
  3. Conversion Stage Energy and the Utilities Behind a Score
  4. Transport and Distribution Inside the Score
  5. The Biogenic Carbon Convention at the Tailpipe
  6. Co-Product Credits and the Allocation Choice
  7. Indirect Land Use Change as an Addition to a Score
  8. Avoided Methane and Scores That Fall Below Zero
  9. Certified Values Against Programme Defaults
  10. Provisional Scores and the True-Up That Follows
  11. The Uncertainty Inside a Score and What It Costs
  12. Reading a Pathway Certificate Without Overreading It
M2 The Models That Produce a Score Ch 24-33
  1. A Score Is a Model Output, Not a Measurement
  2. California's Tier Structure and the CA-GREET Model
  3. Canada's Fuel LCA Model Under the Clean Fuel Regulations
  4. RenovaCalc and the Brazilian RenovaBio Design
  5. CORSIA Life Cycle Values for Aviation Fuel
  6. The European Greenhouse Gas Saving Method as a Contrast
  7. Why One Plant Scores Differently in Two Programmes
  8. Model Version Changes and the Shelf Life of a Score
  9. Where Primary Data Repays the Effort of Collecting It
  10. Reconciling Two Scores Held Against One Consignment
M3 Pathway Certification and Score Maintenance Ch 34-43
  1. What a Pathway Application Is Actually Asking For
  2. The Operating Period a Score Is Built From
  3. Annual Verification of a Score Already Approved
  4. Re-Certification After a Process Change
  5. Several Approved Pathways Inside One Plant
  6. Switching Feedstock Within an Approved Description
  7. Aggregated Pathways for Many Small Producers
  8. Score Revision Risk and Retroactive Adjustment
  9. Programme Registration and the Account a Score Sits In
  10. Holding the Evidence a Score Depends On
M4 Credit and Deficit Quantity Arithmetic Ch 44-55
  1. The Credit Equation Term by Term
  2. Turning Volume Into Megajoules Without Losing Money
  3. The Energy Economy Ratio and Why It Multiplies
  4. Why a Lower Score Pays More per Megajoule
  5. Credits per Gallon and per Litre, Illustratively
  6. Deficit Generation on a Fossil Barrel
  7. Netting Credits Against Deficits in One Obligated Entity
  8. A Stepping Benchmark Against a Fixed Score
  9. The Crossover Point Where a Credit Generator Starts Owing
  10. Which Component of a Blend Carries the Score
  11. Electricity and Gaseous Fuels as Credit Generators
  12. An Illustrative Credit Ledger for One Month
M5 Who Holds the Credit Ch 56-65
  1. The Default Credit Holder Along the Supply Chain
  2. Contracting the Right to Generate Away
  3. Title Transfer and the Point the Credit Attaches
  4. Registry Accounts and the Mechanics of Holding a Credit
  5. The Obligation Calendar and When a Position Becomes Real
  6. Banking a Surplus and Carrying a Shortfall
  7. The Credit Clearance Mechanism as a Last Resort
  8. Splitting Credit Value Between Producer and Marketer
  9. Infrastructure Credits Earned Without Selling Fuel
  10. When Two Parties Both Claim One Volume's Credit
M6 Credit Value Arithmetic Ch 66-77
  1. From Tonnes Generated to Revenue per Unit Sold
  2. Who Captures the Credit Value in a Negotiation
  3. Expressing Credit Worth in Cents per Gallon Terms
  4. How Much One Gram of Intensity Is Worth
  5. Revenue Sensitivity to the Published Benchmark
  6. Revenue Sensitivity to the Credit Price
  7. Two Pathways, Same Volume, Different Earnings
  8. The Efficiency Ratio as a Value Lever
  9. Where Credit Revenue Enters a Delivered Price
  10. Stacking an Intensity Credit on a Volume Credit
  11. When Stacked Entitlements Interact Rather Than Add
  12. An Illustrative Value Stack on One Renewable Diesel Cargo
M7 Supply, Demand and What Moves a Credit Price Ch 78-88
  1. What Creates Deficit Demand in a Programme
  2. What Creates Credit Supply, and How Fast
  3. The Credit Bank as a Shock Absorber
  4. Reading a Programme's Quarterly Data Release
  5. Why Credit Prices Press Against Administered Limits
  6. Programme Amendment Risk and What It Does to Value
  7. The Argument About Whether Credit Supply Overshoots, and Its Assumptions
  8. Cross-Programme Competition for the Same Low Intensity Barrel
  9. The Spread Between Two Intensity Programmes
  10. Forward Credit Quotations and What They Are Not
  11. Liquidity, Bilateral Trades and the Price You Can Actually Get
M8 Valuation Under Uncertainty Ch 89-99
  1. The Three Uncertainties in Any Credit Number
  2. Building Scenarios for a Benchmark Schedule
  3. Building Scenarios for a Credit Price Path
  4. Expected Credit Revenue Across a Scenario Set
  5. Averaging Payoffs, Never Flooring the Average
  6. Valuing the Option to Improve a Score
  7. Valuing the Right to Redirect Volume Between Jurisdictions
  8. Valuing a Pathway Before It Is Approved
  9. The Downside Case Where a Value Is Revised Upward
  10. Discounting a Multi-Year Credit Revenue Stream
  11. An Illustrative Valuation Driven by Credit Revenue
M9 Control, Reconciliation and the Worked Case Ch 100-111
  1. The Credit Position as a Reportable Exposure
  2. Reconciling the Credit Ledger to the Physical Ledger
  3. Reconciling Entitlements to the Sustainability Evidence
  4. Invalidation and the Retroactive Loss of Generation
  5. The Evidence File Behind a Credit Claim
  6. Controls on the Data That Feeds a Score
  7. Governing a Change to an Approved Value
  8. Reporting Credit Revenue Inside the Firm
  9. A Worked Case, Part One: Scoring the Consignment
  10. A Worked Case, Part Two: Counting the Credits
  11. A Worked Case, Part Three: Valuing and Deciding
  12. What Intensity Credit Arithmetic Cannot Tell You

The brochure gives each of these 111 chapters a paragraph on what it covers and what you can do once you have worked through it.

This is course 11 of twenty

It stands alone, and it is also the entry point to the Biofuels and SAF Desk Academy pathway.

Enrol or enquire See the whole pathway