Managing Projects and Offset Issuance
Before offsets are issued, project proponents must report on emission reductions or removals for each reporting period (usually each year). As part of quality assurance procedures, proponents are encouraged to monitor activities to ensure that projects align with the project plan and protocol, and to document the results.
The project report confirms how a project was implemented relative to the accepted plan, protocol and regulation requirements. The report includes the time period of the project report, project details, and the GHG reduction or removal total for the period. It also describes any variations from the project plan..
- Project Report Template - Version 2.1, December 2017 (DOCX, 189 KB)
All project reports must be verified by an accredited verification body.
Verification bodies follow the criteria established by the Greenhouse Gas Industrial Reporting and Control Act, the Greenhouse Gas Emission Control Regulation and protocol to review the project. Successful verifications include a summary statement, as provided by an accredited third party, that the project report has been presented fairly and accurately. Before performing a verification, verifiers must demonstrate that they are not in a conflict of interest with respect to the project.
- Verification Statement Template - Version 3.0, December 2017 (DOCX, 154 KB)
To have offsets issued to the registry, verification bodies submit a project proponent’s verified project report and verification statement to the director through the BC Carbon Registry. When satisfied that the submission is consistent with regulatory requirements, the director will issue the offsets into the proponent’s account.
The BC Carbon Registry tracks the ownership and status of offset units, credits and funded units, providing transparency to the industry and public.
Once offset units are issued, they can be transferred to other parties or sold to other organizations such as the province, which purchases offsets as part of its commitment to carbon neutral government.