Pacific Carbon Trust Makes First Offset Delivery

Posted on July 24, 2009 by Jonathan Lotz

The Pacific Carbon Trust has made its first delivery of carbon offsets to the B.C. government. The transaction, which consisted of 34,370 tonnes of emission offsets, represents an important landmark in the development of the Trust.

The Trust was created in 2008 as a B.C. crown corporation to facilitate the carbon offset aspect of the government’s environment policy. In particular, the Trust has a mandate to deliver offsets to Provincial Government ministries, all of which will be required to offset their carbon emission by 2010 under the Greenhouse Gas Reductions Targets Act. To date, the Trust has acquired offsets from 15 facilities in B.C. and aims to purchase over 700,000 tonnes of carbon offsets per year by 2011.

In a recent press release, Minister of State for Climate Action John Yap said he felt the Trust has been a success story so far and is helping to deliver on the government’s green economy initiative. Mr. Yap has reason to be excited about the Trust’s accomplishments given that it is delivering carbon offsets in only its first year of operations.

The wider impact of the Trust on B.C.’s green economy is also evident in the success of private offset businesses such as Offsetters. The Trust has purchased over 300,000 carbon offsets from the offset provider to be delivered over 5 years. The Trust also recently entered into an offset contract with Sempa Power Systems. Sempa has created a successful enterprise installing energy efficient hybrid heating systems in hotels and other buildings.

To date, the Pacific Carbon Trust has been an example of the Provincial Government’s ability to stimulate B.C.’s green economy through innovative projects and legislation designed to encourage private initiative. Megawatt will keep you posted on further developments for the Trust and the world of carbon offsets.

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British Columbia - the land of clean power opportunities

Posted on October 30, 2008 by Warren Brazier

 

Lots of interesting things going on at the annual IPPBC conference which wrapped up on Tuesday. Here are some of my conference notes and observations (in no particular order):

  • With its abundance of natural resources, proven track record of business innovation and geographic location, British Columbia is perfectly situated to be a world class leader in clean and green energy
  • Energy policy is the big issue this decade in the Province, if not world-wide (as is climate change, and sustainable natural resource development)
  • First Nations, by and large, support IPPs on sustainable development of natural resources which respect First Nations aboriginal rights and title
  • Many First Nations are working in successful partnerships with IPPs. You can read more about the local media's coverage of First Nations and IPPs here 
  • IPP projects are typically situated in rural communities and provide lots of good construction and management jobs and other economic benefits
  • It is a huge missed opportunity that BC Hydro does not have a mandate to purchase power for export (unlike some eastern provinces in Canada)
  • If elected, the current official opposition party in BC, will present a significant challenge to independent power producers in British Columbia. The industry is working to dispel the myths about the development of independent power projects. Stay tuned for a public relations blitz. Good on IPPBC for taking this on.

 

  • The complex world of permitting project in British Columbia will be better understood when the BC Ministry of Agriculture and Lands releases the IPP Guidebook (once released you will be able to find a copy of it here)
  • Financing in the current market is a significant challenge for all developers
  • The WREZ Project, currently in Phase 1, is another excellent example of regional and cross-border co-operation.
  • The conclusion of the BC Climate Action Team, that "we must reduce carbon use with economic development" is at first glance a paradox, but if you think about it, it makes complete sense. Check out the BC Climate Action Plan
  • The Bioenergy Call is oversubscribed (BC Hydro wants 1,000 gwh; it received proposals for approximately 4,100 gwh) Lots of great bioenergy resources in British Columbia, so we should expect more calls of a similar nature.
  • Biogas in BC is going to waste (tremendous business opportunity here)
  • In 10 years of providing $10M in loans to First Nations enterprises EcoTrust Canada Capital has never had a loan defaulted on
  • The CEO of Enmax is a true leader in a sustainable energy future. Coming soon to the City of Calgary: residential solar. Awesome!
  • Coal + carbon sequestration is approximately 16% energy efficient; Solar is 17%. Go figure.
  • The BC Clean Tech Capital Budget  is an an excellent resource to access capital for renewable energy companies
  • The future of electric cars is now, and plugging in at night in may have multiple benefits
  • Battery storage of energy generated by wind is possible. Great local innovation.
  • There is tremendous potential for ocean energy in British Columbia. If you're interested, check out the Ocean Renewable Energy Group
  • Syntaris Power Corp. makes a delicious smoothie!

 
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