Selling Carbon Offsets to the Province
B.C.’s carbon offset portfolio has resulted in total emission reductions of approximately 6.8 million tonnes carbon dioxide equivalent (CO2e) between 2010 and 2019. In addition to reducing emissions, offsetting advances green technologies, supports clean job growth and stimulates the economy.
The Climate Investment Branch of the Ministry of Environment and Climate Change Strategy procures offsets through an open, fair and competitive process, as detailed in the Request for Offset Units (RFOU) (PDF). Applications are assessed against the criteria in the RFOU. The types and volumes of offsets purchased by the province at any given time can vary.
Selling offset units to the province begins with the submission of a completed Project Information Document (Attachment B, DOCX). The assessment process is multi-staged, and includes an evaluation of the project attributes against those listed in the Project Types and Desirable Outcomes (Attachment A, PDF).
Qualifying offset project proponents are invited to enter into Offset Purchase Agreements (Attachment C, PDF). These agreements have standardized terms and conditions. Key commercial terms, such as volumes, pricing and delivery dates can be negotiated.