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The BC Carbon Market
British Columbia’s Emission Offset Regulation (BC EOR) was issued under the authority of the Greenhouse Gas Reduction Targets Act (GGRTA) and was passed on November 29, 2007. Using a 2007 baseline year, GGRTA set BC’s targets for greenhouse gas emission reductions:
- 6% reduction by 2012
- 18% reduction by 2016
- 33% reduction by 2020
- 80% reduction by 2050
GGRTA also legislated that the BC Government commit to carbon neutrality for its ministries and agencies by purchasing BC-based carbon offsets (becoming the first government in North America). This commitment has created a viable carbon market in BC for project proponents with additional emission reduction activities to sell their carbon assets.
To achieve carbon neutrality for 2010 calendar year, the BC Government offset 730,000 tonnes of carbon dioxide equivalent (CO2e).
Offsetters has been active in BC’s carbon market, and was the largest initial supplier of offsets to the Pacific Carbon Trust, the Crown corporation established to help the BC Government meet their carbon neutral goal.
We’ve worked on a wide range of projects types and in various industries, successfully bringing these carbon offsets to market. We’ve also developed two protocols: 1) the quantification of emissions reductions generated by diesel efficiency; and, 2) energy efficiency in commercial buildings.
Validation and verification requirements
BC-based carbon offset projects are required to undergo both validation and verification by accredited third-party auditors to a reasonable level of assurance. This level of rigor can present challenges project proponents by straining valuable resources of time and expertise. In addition, project proponents face greater risk of being unable to cost-effectively develop the project which can lead to failure to complete.
How Offsetters can help
Our Project Development team can help you successfully assess and develop your carbon offset project in a cost effective and timely manner. We can identify and anticipate the quantification and development challenges from the beginning helping to ensure that the project progresses efficiently. By doing so, we can work with you to maintain competitive margins while adhering to BC’s emission offset requirements.
Offsetters has over 5 years of proven experience with BC-based carbon project development, project administration and documentation, and the carbon project data management procedures required to develop projects to a reasonable level of assurance. Our ability to develop offset projects effectively and efficiently saves project proponents time and money by helping lower the validation and verification costs, enabling you to focus on your business.
We pride ourselves on our ability to innovate. Our experts work to develop new offset quantification protocols to assist the advancement of innovative project types. Offsetters is also leading the way with programmatic (grouped) aggregation projects in BC. We are transforming BC’s carbon landscape by being the first carbon management solutions provider to undertake this exciting new project type.
For a complete eligibility assessment for carbon market funding, email proje...@offsetters.ca or contact our offset project origination team at 604.699.2650 for more information.