Criticism of carbon offsets doesn’t acknowledge changes to how projects are approved, monitored

DM

Properly managed carbon offset credits can play a significant role in reducing Canada’s emissions There has been a lot of criticism lately about the use of carbon offsets in Canada’s Output-Based Pricing System (OBPS). Much of it is misplaced, ignoring the advances made in using offset credits to reduce emissions effectively and sustainably. With a few minor improvements, Canada’s use of offset credits could be a significant part of the country’s efforts to meet its Paris Agreement commitments. The OBPS is the federal government’s answer to reducing greenhouse gas emissions in the industrial sector. It places an annual “cap” on a company or facility’s industrial emissions. Those that exceed the cap must pay a penalty for their excess emissions, or buy credits from companies that have reduced emissions below their own cap.

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