If one accepts that the Earth is undergoing a warming trend and that trend is primarily due to human activity of burning fossil fuels producing greenhouse gases (GHG), or clearing forests, which remove the GHG, then it’s only a small step to agree some form of incentive to reduce the production of these gases is desirable.
There are two methods typically proposed by governments to induce populations to follow their best interests: carbon taxes or carbon offsets.
British Columbia has chosen the carbon-offset approach, setting up the Pacific Carbon Trust (PCT at pacificcarbontrust.com) to broker carbon offset trades. This involves selling offsets to entities wishing to reduce their carbon emissions and buying offsets from entities able to remove carbon from the atmosphere or reduce their production of it.
In 2007, the B.C. government created the PCT and the Greenhouse Reduction Target Act requiring that B.C. as a whole reduce GHG by 33 per cent by 2020 and 80 per cent by 2050, and that the public sector become carbon neutral by 2010.
The PCT website states that in 2010, provincial public service organizations produced 729,782 tonnes of emissions and funded it with $75 million to retrofit schools and hospitals.
In 2008-10 B.C., public service organizations bought 774,275 tonnes of offsets. Closer to home, School District 27 bought offsets for 3,387 tonnes costing $84, 921, while the private sector bought a mere 11,092 tonnes.
Meanwhile, there are many companies selling carbon offsets to PCT, and while the cost from PCT is a standard $25/tonne, their cost seems to be much lower.
Although the PCT, as a whole, has an admirable goal, there are several sticking points that warrant discussion.
The public-service organizations are meeting their goal of carbon neutrality at considerable expense.
Even though private industry is being subsidized, it’s not meeting its goals and there appears to be a large discrepancy between buying and selling price of these credits.
This is something the PCT needs to justify.
To join the discussion, go to the South Cariboo Sustainability Society on Facebook at southcariboosustainability.
Peter Jarvis is a South Cariboo Sustainability Society director.