in News Departments > Policy Watch
print the content item

Canada's Environment Minister Jim Prentice has announced that the government is moving forward with its Offset System for Greenhouse Gases (GHG).

"This system is one of several steps we are taking as we finalize our domestic regulatory framework for greenhouse gas emissions, and marks a major milestone as we move towards establishing a carbon market in Canada," says Prentice.

The Offset System will establish tradable credits and encourage cost-effective domestic GHG reductions in areas that will not be covered by planned federal GHG regulations.

Potential projects that could qualify for offset credits include wind energy, methane capture and destruction from landfill gas, afforestation and other forestry projects, and agricultural soil management.

Companies subject to the GHG emissions regulations will be able to purchase offset credits on the carbon market and use those credits for compliance with their regulated targets. In addition, other parties, such as small businesses and individuals, will be able to acquire and use these credits to voluntarily offset the GHG emissions from their activities.

The two draft guides that will be published in the Canada Gazette on June 12 propose rules and guidance on the requirements and processes used to generate offset credits and to verify the eligible GHG reductions achieved from a registered project. Interested parties will have 60 days to comment on these guidance documents.

The release of these two draft guides follows the publication of the first draft guide in August 2008, which proposed the rules and guidance to quantify GHG reductions for projects in Canada's Offset System. The final versions of all three Offset System guides are expected to be published this fall after all comments have been reviewed.

For more information, visit ec.gc.ca.

SOURCE: Office of the Minister of the Environment




Trachte Inc._id1770
Latest Top Stories

Eagle Take Permits For Wind Farms - Will They Fly?

Now that the U.S. Fish and Wildlife Service has issued the first permit allowing the legal take of eagles, can wind developers expect more certainty in the agency's application process?


Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.


IRS Issues More PTC Guidance, Easing Some Wind Industry Concerns

The Internal Revenue Service (IRS) addresses how much work is needed on a wind farm to satisfy production tax credit (PTC) eligibility.


Embryonic No More: U.S. Offshore Wind Industry Gaining Momentum

After a decade of fits and starts, the industry is moving closer to installing the first generation of wind projects off the country's shores.

Renewable NRG_id1934
Canwea_id1984
Tower Conference_id1965