Compliance Markets
- Alberta Technology Innovations and Emissions Reduction (TIER) – Facilities that emit over 100,000 tonnes of CO2 or equivalent per year are regulated and must reduce emissions to meet benchmark targets. Facilities that reduce beyond the benchmark generate emissions performance credits that can be purchased by other emitters that don’t meet the benchmark.
- Quebec and California Cap and Trade – Created as part of the Western Climate Initiative in 2014 this system has progressed over the years to show that compliance markets between countries and jurisdictions is possible through the purchase and sale of emissions allowances.
- Canadian Federal Output Based Pricing System (OBPS) – The federal system for pricing carbon emission applies to any province that does not have their own system in place currently.
- CORSIA – Carbon Offsetting and Reduction Scheme for International Aviation
- BC Low Carbon Fuel Standard Credits
Voluntary Markets
- The voluntary market is growing at a rapid pace worldwide. These markets enable carbon emitters to offset their emissions by acquiring carbon credits generated by third-party initiatives aimed at avoiding, removing or decreasing GHG emissions from the environment. Companies can engage in the voluntary carbon market on their own or as part of an industry-wide program to support ESG goals outside of the compliance markets. The highest quality are verified by reputable bodies and support projects that are easily quantifiable, they also garner the highest prices.