Selling Offsets to the Province
The Ministry of Environment’s Climate Investment Branch is responsible for investing in and managing the Province’s portfolio of B.C.-based offsets. This portfolio is managed on behalf of all B.C. ministries and public sector organizations in support of the Province’s legislated carbon neutral government commitment.
The highest value offsets portfolio for B.C. is one that continues to create positive economic impacts throughout the province’s economic regions and sectors, leveraging offset investment dollars to generate even greater private sector investments, while supporting government objectives such as development, adoption of clean technologies and jobs creation.
Offsets are procured through an open, fair, transparent, and competitive process. The Province’s Request for Offsets Units (RFOU) document and its appendices detail the process and criteria for selling offsets to the Province. The Climate Investment Branch will be accepting proposals to sell offset units that meet the criteria outlined in the RFOU. The types and volumes of offsets the Province is purchasing at any given time can vary.
Selling offset units to the Province begins with the submission of a completed Project Information Document. The Project Information Document template, provided as an appendix to the RFOU, forms the project proposal once completed. The information provided on the Project Information Document is used by the Province to make an assessment of the project’s eligibility to create and sell qualifying offset units to the Province. The assessment process is multi-staged, and includes an evaluation of the offset project attributes against those listed in the Desirable Offset Project Criteria provided as an appendix to the RFOU.
The Province invites qualifying offset project proponents to enter into standardized Offset Purchase Agreements. These agreements have standardized terms and conditions. Variable delivery considerations, such as volumes and pricing, are often negotiated.