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 B.C. Offset Units through an open, fair and competitive process, as detailed in the Request for Offset Units (RFOU, PDF, 355KB). Applications are assessed against the criteria in the RFOU.
A key qualification criterion is that projects must meet provincial offset regulatory requirements. Prospective proponents are encouraged to review the regulatory requirements as a first step prior to planning projects, considering investment decisions or seeking potential purchasers.
The RFOU closes on July 19, 2021. Following the close of the RFOU, the ministry intends to review its approach to purchasing carbon offsets and to explore opportunities for updating the offset procurement process. Please refer to the Frequently Asked Questions (PDF, 138KB) for more information. Additional questions regarding this review can be directed to ClimateInvestmentBranch@gov.bc.ca.
The procurement review will not impact work related to the development of offset protocols. Protocol development is a separate process that is part of provincial offset regulatory requirements; it is distinct from government’s purchasing process for carbon offsets. For more information related to protocol development and offset regulatory requirements, contact GHGRegulator@gov.bc.ca.
Selling B.C. Offset Units to the province under the RFOU begins with the submission of a completed Project Information Document (Attachment B, DOCX, 73KB). 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, 97KB). A key qualification criterion is that projects must meet provincial offset regulatory requirements.
Applicants who successfully pass the multi-staged evaluation are invited to enter into Offset Purchase Agreements (Attachment C, PDF, 238KB). These agreements have standardized terms and conditions. Key commercial terms, such as volumes, pricing and delivery dates can be negotiated.