Megawatt: British Columbia Renewable Energy Law Blog : BC Renewable Energy Blog : Clark Wilson Law Firm : Green Power, Natural Energy

In a previous post, I discussed the concept of carbon offsets and looked at the Pacific Carbon Trust in particular. The Trust is a new B.C. crown corporation that provides carbon emission offsets to businesses and government ministries. This week, the Megawatt spotlight is on Offsetters Clean Technology Inc. Offsetters is a B.C. based company and one of Canada’s leading offset providers. Notably, Offsetters was recently named the Official Carbon Offset Provider of the Vancouver 2010 Olympic and Paralympic Games.

Offsetters was founded in 2005 by two professors at the University of British Columbia. The company has created numerous carbon offset projects to date, many of which increased the energy efficiency of existing businesses and encouraged the introduction of more efficient energy systems. For example, one offset project was based on the use of a new biomass boiler to heat greenhouses, while another project involved the purchase of a ground-source heat pump system for an extended care facility. Offsetters states that these projects would not have been possible without funds from carbon offset purchasers.

One reason Offsetters focuses on energy efficiency projects, rather than forestry based carbon offsets, is that it claims the carbon reductions from energy efficiency undertakings are more easily verifiable. In particular, a representative from the company suggested that carbon offsets based on tree planting may be less successful because when the trees eventually decompose, they release stored carbon back into the atmosphere. Offsetters insures that all carbon emission reductions from its projects are independently verified by a qualified engineering firm.

In addition to the Vancouver Olympic Organizing Committee, Offsetters has already assembled an impressive list of clients. These include Vancity Capital, Bunting Coady Architects and Avison Young Real Estate Solutions, to name just a few. Offsetters also partners with West Jet and Air France to provide free carbon offsets to airline passengers. Patrons of either company may elect to have the carbon emissions from their flight offset by the airline at no cost to themselves.

Megawatt will keep you posted on new developments in the world of carbon offsets and other climate change solutions.

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The British Columbia Government’s Climate Action Plan will soon be providing new opportunities to organizations and entrepreneurs interested in undertaking environmental “carbon offset” projects. Carbon offsets are projects that reduce the amount of carbon in the atmosphere in order to counteract global warming. The economic concept behind carbon offsets is that businesses and organizations purchase “carbon credits” generated by the projects to cancel out their own carbon emissions. Businesses usually purchase carbon credits in order to improve public relations or meet regulatory standards.

The Provincial Government created the Pacific Carbon Trust  as a crown corporation to facilitate the carbon offset aspect of its Green Economy Initiative. In particular, the Trust was created to serve the needs of British Columbia Government ministries, all of which will be required to offset their carbon emission by 2010 under the Greenhouse Gas Reductions Targets Act. The Trust will purchase carbon credits from private suppliers and then sell them to government ministries and businesses.

The Trust recently asked potential carbon offset suppliers to provide information on the kinds of projects they would create and market to the Trust. The Trust expressed particularly strong interest in forestry projects that aim to offset carbon emissions by increasing tree density. All offset projects marketed to the Trust must be based in British Columbia. The Trust plans to purchase carbon credits from offset suppliers by the end of 2009 and will publish a detailed guide on how to submit project proposals to the Trust in July.

Stay tuned to the Megawatt blog for more on the Pacific Carbon Trust and other carbon offset opportunities.  

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