The Government of Canada has launched Canada’s Greenhouse Gas Offset Credit System. A media release said the system is a key measure outlined in Canada’s 2030 Emissions Reduction Plan.
The offset system provides incentive to undertake innovative projects that reduce greenhouse gases. Registered participants can carry out projects following a federal offset protocol, and generate one tradeable offset credit for every tonne of emissions they reduce or remove from the atmosphere.
Once a credit is earned, it can be sold to others to help them meet their compliance obligations or emissions reduction goals under the carbon pollution pricing system.
Steven Guilbeault, Minister of Environment and Climate Change, has launched the first in a developing series of federal offset protocols. Under the new Landfill Methane Recovery and Destruction protocol, municipalities and other landfill operators will be able to generate offset credits for recovering landfill gas from their operations and destroying it or repurposing it into energy with technologies such as flares, boilers, turbines, and engines. Reducing greenhouse gases from waste (responsible for 7 percent of Canada’s greenhouse gases) is a key component to achieving Canada’s emissions reduction targets.
Four additional offset protocols are currently in development for activities such as advanced refrigeration, agriculture, and forest management. Environment and Climate Change Canada has also identified the next round of protocols for development, which will include a protocol for Direct Air Carbon Capture and Sequestration, technologies that directly remove carbon dioxide from the atmosphere and permanently store it underground.
“Establishing a federal carbon offset market is a win-win for the economy and the environment. Starting with landfills, we’re putting in place a market-based mechanism to incentivize businesses and municipalities to invest in the technologies and innovations that cut pollution. Over the coming year, we will roll out more offset protocols for activities in other sectors, such as forestry and agriculture,” said Guilbeault.
“Agricultural producers are committed to the fight against climate change, and have made significant gains in reducing the GHG emissions intensity of the sector in recent years. We look forward to the development of specific details on how the agriculture sector can benefit under the federal offset credit system. These will allow our farmers to take advantage of new economic opportunities, while helping meet Canada’s emissions reduction goals,” said Marie-Claude Bibeau, Minister of Agriculture and Agri-Food.
