Canada Introduces Greenhouse Gas Offset Credits to Reduce Emissions
by : Nikola Gemeš |
Published: June 17, 2022
0 shares Share 0 Tweet 0 Pin 0 Share 0 Canada has recently launched a credit system for greenhouse gas offsets. This is a cornerstone part of the country’s plan to cut carbon emissions. The idea is to introduce …
Canada has recently launched a credit system for greenhouse gas offsets. This is a cornerstone part of the country’s plan to cut carbon emissions.
The idea is to introduce a set of rules that specify how projects can generate tradable credits by capturing landfill gas.
According to Reuters, the government is developing offset credit protocols for four other sectors, including agriculture and forest management.
“Prime Minister Justin Trudeau's Liberal government has pledged to cut climate-warming emissions 40-45% below 2005 levels by 2030. Greenhouse gas emissions from waste, including landfills, make up 7% of Canada's total carbon output.”
The greenhouse gas offset credit system is meant to support a domestic offset trading market while creating new opportunities for companies and municipalities to reduce emissions.
Organizations can register projects and generate one tradeable offset credit for each ton of emissions they reduce or remove from the atmosphere.
Of course, they need to prove that the projects follow the federal offset protocols.
They can sell those credits to others, such as heavy industry emitters who are legally required to limit carbon pollution or to companies that voluntarily want to offset their carbon.
Business & Policies ,
Canada Introduces Greenhouse Gas Offset Credits to Reduce Emissions
by : Nikola Gemeš | Published: June 17, 2022
0 shares Share 0 Tweet 0 Pin 0 Share 0 Canada has recently launched a credit system for greenhouse gas offsets. This is a cornerstone part of the country’s plan to cut carbon emissions. The idea is to introduce …
Canada has recently launched a credit system for greenhouse gas offsets. This is a cornerstone part of the country’s plan to cut carbon emissions.
The idea is to introduce a set of rules that specify how projects can generate tradable credits by capturing landfill gas.
According to Reuters, the government is developing offset credit protocols for four other sectors, including agriculture and forest management.
The greenhouse gas offset credit system is meant to support a domestic offset trading market while creating new opportunities for companies and municipalities to reduce emissions.
Organizations can register projects and generate one tradeable offset credit for each ton of emissions they reduce or remove from the atmosphere.
Of course, they need to prove that the projects follow the federal offset protocols.
They can sell those credits to others, such as heavy industry emitters who are legally required to limit carbon pollution or to companies that voluntarily want to offset their carbon.
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