On Wednesday, Canada launched its Greenhouse Gas Offset Credit System to regulate the sale of carbon offsets under the national carbon pricing law. The program will allow registered parties to generate and sell verified carbon offset credits issued by Canada’s federal environmental agency, Environment and Climate Change Canada.
Canada Releases Draft Carbon Offset Market Regulations
Canada Begins Formulating Carbon Offset Protocols Under Pollution Pricing System
Canada’s department of the environment and climate change recently announced it is developing first phase federal carbon offset protocols for advanced refrigeration systems, forest management, landfill methane management, and “enhanced soil organic carbon” (presumably referring to what is commonly known as regenerative agriculture).
Fed Govt Accepts Ontario Emission Performance Standard as Satisfying Pollution Pricing Law
On September 21st, 2020, the Canadian federal government accepted Ontario’s Emission Performance Standard (EPS) program as an alternative to the federal output-based pricing system (OBPS) that’s been in effect in the province since January 1st, 2019. Both programs are cap and trade-type emission pricing regimes designed to incentivize industrial polluters (e.g., pulp and paper facilities, base metal smelting facilities, etc.) to lower greenhouse gas (GHG) emissions.