The Ontario Ministry of the Environment and Climate Change (MOECC) recently released a document on the emissions offset program being proposed in association with the greenhouse gas (GHG) cap-and-trade program. The intent of this proposal is to identify key rules and criteria for participation in the offset programs.
The document indicates that that the MOECC will create an "Offsets Initiative Registry" that will contain a list of offset program participants, and offset program initiatives. Supporting GHG documents prepared by the participants for the initiatives will be required to be submitted through the registry. In addition, protocols will be set by the MOECC for offset initiatives. Currently, Ontario is planning on adapting 13 existing offset protocols from the existing Québec protocols.
This drafted program will allow an eligible facility (outside of the capped sectors) to voluntarily reduce, avoid or remove emissions. The proposal also stipulates that capped sector participants can use offset credits to meet up to 8% of their compliance obligations under the cap-and-trade program.
The MOECC proposal posted on Environmental Bill of Rights (EBR) outlines key elements of the offset programs including:
- Start Dates
- Crediting Periods
- Reporting Requirements
- Verification Requirements
- Offset Credit Creation Criteria
- Buffer Account
- Offset Credit Issuance
- Project Reversals
The proposal was posted on Environmental Bill of Rights (EBR) Registry in November 2016 for a 45 day comment period. Comments can be made on the EBR Registry Number: 012-9078.
These upcoming changes to regulation guidance documents will have a wide impact on industries of all types. To find out how these changes will impact you, your facility, or your business, please do not hesitate to contact Trinity Consultants' Ontario office for more information.
Trinity Consultants has the knowledge, experience and resources to assess the upcoming changes and its impacts for your facility. For more information please contact Suzy Sabanathan at (416) 391-2527 x22, or via email.