The largest source of GHG in California comes from the transportation sector. In order to reduce such GHG, the State enacted a regulation, the Low Carbon Fuel Standard, the LCFS. California's Air Resources Board, CARB, has been charged with implementing the LCFS. The regulation established a performance-based market mechanism to incent parties regulated by it ("RP or RPs")to steadily lower the carbon intensity (CI) of the the transportation fuels they produce, import or blend in California. (The CI for each fuel is determined through an analysis of its carbon emissions through its full life cycle, from "well-to-wheel".) Those fuels with a CI lower than an annually declining benchmark generate credits and those with a CI higher generate deficits. Credits can be used to offset a RP's deficits, or can be sold or traded. In order for the public, regulators and the financial markets to have confidence that a transportation fuel used in the State actually reduced GHG by an amount corresponding to the number of credits generated, the State has recently incorporated a complex system for verifying the reported CI and amount of fuel transacted. Only verification bodies ("VB's") certified by CARB with Verifiers also certified by CARB can provide the annually required verification statements to RP's that enable them to continue to generate LCFS credits, now worth more than $200/MT. Nathalie Hoffman, CEO of LCFS Verification Services, has been certified as a LCFS Verifier.