Federal Greenhouse Gas Offset System Overview
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The Federal GHG Offset System will
encourage cost-effective GHG
emissions reductions and removals in Canada from voluntary activities not
covered by legal requirements or carbon pollution pricing
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Further extends the price signal on carbon pollution across the economy
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Will allow farmers, foresters, Indigenous populations and other project developers to earn
revenue for GHG reductions and stimulate innovation and private sector investment
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The Federal GHG Offset System consists of three main elements:
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Draft
Greenhouse Gas Offset Credit System Regulations (Canada)
published in
Canada
Gazette Part I
: March 6, 2021
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The release of the final regulations is targeted for mid-2022
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Federal GHG Offset protocol development ongoing since spring 2021.
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xternal experts, PTs and Indigenous representatives are being engaged to
support protocol development.
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Protocol will credit GHG reductions and removals achieved from adoption
of sustainable agricultural land management activities which go beyond
business as usual and enhance soil organic carbon sequestration
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Cattle release methane as a result of digestion of feed in the rumen.
Protocol will credit
GHG reductions achieved through alterations in
livestock feeding strategies and other technologies
The Federal Greenhouse Gas Offset System in Canada aims to incentivize cost-effective GHG emissions reductions and removals from voluntary activities. Projects must go beyond business-as-usual practices and meet specific criteria to generate GHG reductions and earn offset credits. The system consists of regulations, protocols, and a credit/tracking system to manage offset projects and credits effectively.
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Presentation Transcript
FEDERAL GREENHOUSE GAS OFFSET SYSTEM Presentation to Canadian Federation of Agriculture Climate Solutions Panel March 2, 2022
FEDERAL GHG OFFSET SYSTEM The Federal GHG Offset System will encourage cost-effective GHG emissions reductions and removals in Canada from voluntary activities not covered by legal requirements or carbon pollution pricing Offset projects must be additional and go beyond business-as-usual practices Further extends the price signal on carbon pollution across the economy Will allow farmers, foresters, Indigenous populations and other project developers to earn revenue for GHG reductions and stimulate innovation and private sector investment To receive federal GHG offset credits, projects must generate GHG reductions and/or removals that are real, quantifiable, unique, verifiable, and permanent
FEDERAL GHG OFFSET SYSTEM The Federal GHG Offset System consists of three main elements: Regulations - Will implement operational aspects of the system and are enabled under the Greenhouse Gas Pollution Pricing Act Draft Greenhouse Gas Offset Credit System Regulations (Canada) published in Canada Gazette Part I: March 6, 2021 The release of the final regulations is targeted for mid-2022 Protocols - Will set out the approach for quantifying GHG emissions reductions for a given project type; are being developed in parallel to the regulations on an ongoing basis Credit and tracking system Will register offset projects, issue and track offset credits, and share key information through a public registry
AGRICULTURAL OFFSET PROTOCOLS Federal GHG Offset protocol development ongoing since spring 2021. External experts, PTs and Indigenous representatives are being engaged to support protocol development. Enhanced Soil Organic Carbon (ESOC) Protocol will credit GHG reductions and removals achieved from adoption of sustainable agricultural land management activities which go beyond business as usual and enhance soil organic carbon sequestration Livestock Feed Management (LFM) Cattle release methane as a result of digestion of feed in the rumen. Protocol will credit GHG reductions achieved through alterations in livestock feeding strategies and other technologies
