Atmospheric Benefit Sharing Agreements
Atmospheric Benefit Sharing Agreements (ABSA) enable First Nations to sell carbon credits. Specifically, these agreements clarify First Nations ownership and the right to sell tonnes of carbon in local or international carbon markets.
The agreements are in effect from the date that B.C. and each of the First Nations sign them, and continue until March 31, 2025. Each of these agreements will be reviewed every five years. These agreements are not stand alone, they can only be entered into if the First Nation has signed a Reconciliation Protocol agreement.
A key component to enable these agreements is the Forest Carbon Offset Protocol (FCOP), developed in coordination between the Province and the Pacific Carbon Trust. The FCOP provides guidance for the procedures used in the modelling of forest ecosystem carbon.
The following First Nations have an Atmospheric Benefit Sharing Agreement.
- Coast First Nations - 2015
- Haida Nation - 2012
- Nanwakolas First Nations - 2016