Companies are implementing mechanisms to fight against global warming.
The scientific community agrees that the average global temperature is rising due to human activity, or more specifically to the release of greenhouse gases (GHG) into the atmosphere. Humanity is in a race against time to contain this global temperature rise. Climate change is already causing catastrophic consequences. Collectively and individually, we must rapidly and dramatically reduce our GHG emissions.
A growing number of individuals and organizations are willing to do their part by taking action at their own level to contribute to the collective achievement of climate goals. Those who wish to engage in a serious climate approach can draw inspiration from best practices in measuring, reducing and offsetting GHG emissions.
Carbon pricing is a tool that allows jurisdictions to impose a cost on GHG emissions, either through a tax or a carbon market. In Canada and Quebec, companies are subject to this increasing pricing and must transform their activities to minimize the risks and take advantage of the opportunities.
To achieve its GHG reduction targets, Quebec has implemented a regulated carbon market structured by a cap-and-trade system. Just over 100 industrial and fuel distribution companies are subject to this system.
There are essentially two types of emission rights in the carbon market: emission units and offset credits. Both represent one metric ton of CO2 equivalent.
The emissions unit is created by the government and is considered the gold standard in the carbon market. By purchasing such an emission right and taking it out of the market, Coop Carbone directly removes, at the source, emissions that would have been allowed by the Quebec government under the cap-and-trade system (CATS).
Forcing Large Emitters to Reduce Their Emissions
Currently, the emission units sold by Coop Carbone are the only mechanism allowing individuals and organizations to offset their carbon footprint and willingly participate in the Quebec carbon market. By purchasing these emission units through Coop Carbone, you reduce the opportunities for large emitters to avoid reducing their emissions.
An Innovative Product in the Carbon Offset Market
Coop Carbone offers an innovative product on the Quebec carbon offset market, based on the cap-and-trade system (CETS), which is at the root of the regulated carbon market in Quebec.
We buy emission units to remove them from the carbon market.
This approach reduces the amount of emission rights available to large emitters and therefore forces them to reduce their overall GHG emissions.
Coop Carbone relies on a team of experts with a common global perspective. We offer a consulting service to companies and organizations concerned about their climate footprint and the impacts of climate change on their activities. We support their desire to engage in the fight against climate change by developing a climate transition strategy with them.
Each year, the government issues emission units based on a total GHG emission cap. This emissions cap is gradually lowered to force companies to reduce their emissions, mainly through innovation. At the end of each compliance period, emitters subject to the market must hold the emission allowances to cover all of their GHG emissions.
In order to facilitate the management of these regulations, Coop Carbone has forged an expertise that is both beneficial to large emitters and conducive to achieving our climate commitments.