The offset System is an important part of Canada’s efforts to reduce greenhouse gases said Minister Prentice. This system is one of several steps we are taking as we finalize our domestic regulatory framework for greenhouse gas emissions, and marks a major milestone as we move towards establishing a carbon market in Canada.
For example, potential offset projects could include methane capture and destruction from landfill gas, the creation of new forests, or agricultural soil management.
Companies subject to the greenhouse gas emissions regulations will be able to purchase offset credits on the carbon market and use these credits for compliance with their regulated targets. In addition, other parties, such as small businesses, individuals and travellers, will be able to acquire and use these credits to voluntarily offset the greenhouse gas emissions from their activities.
