Selling Emission Offsets to the Province
B.C.’s emission offset portfolio has resulted in total emission reductions of approximately 4.9 million tonnes carbon dioxide equivalent (CO2e) between 2010 and 2016. In a given year, the Province has 14 to 25 projects in the portfolio. In addition to reducing emissions, offsetting advances green technologies, supports clean-job growth and drives the economy.
The Climate Risk and Investment Branch of the Ministry of Environment procures offsets through an open, fair and competitive process, as detailed in the Request for Offset Units (RFOU) (PDF, 641 KB). 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, 73 KB). The assessment process is multi-staged, and includes an evaluation of the project attributes against those listed in the Desirable Offset Project Criteria (Attachment A, PDF, 222 KB).
Qualifying offset project proponents are invited to enter into Offset Purchase Agreements (Attachment C, PDF, 738 KB). These agreements have standardized terms and conditions. Key commercial terms, such as volumes, pricing and delivery dates can be negotiated.