On June 13, the Minister of the Environment published two draft rules and program documents for a 60-day public comment period, including Canada's Offset System for Greenhouse Gases: Program Rules for Project Proponents and Canada's Offset System for Greenhouse Gases: Program Rules for Verification and Guidance for Verification Bodies. Together, these two guidance documents establish the proposed rules governing the creation of offset credits, from implementation of projects to credit issuance, including project verification.
To be eligible under the Canadian Offset System credits must be real, incremental, quantifiable, verifiable and unique. Offset credits can be generated in those sectors of the Canadian economy which will not be subject to a future cap on greenhouse gas emissions, and for projects where an established Quantification Protocol exists. The offset system will be based upon international standard ISO 14064-2 and the plan is to credit reductions achieved on or after January 1, 2011 rather than January 1, 2008 as previously proposed. For detailed discussion of the drafts, please consult Gowlings' Climate Change Bulletin, available at: http://www.gowlings.com/resources/enewsletters/climateChange/Htmfiles/ newsflash_20090611.en.html