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Big Tree is Pleased to Acknowledge the Publication of Regulations for Canada's Greenhouse Gas (GHG) Offset Credit System
TORONTO, ON / ACCESSWIRE / June 16, 2022 / Big Tree Carbon Inc. (the " Company " or " Big Tr...
About this update from Big Tree Carbon Inc
[{"type":"text","content":"Big Tree is Pleased to Acknowledge the Publication of Regulations for Canada's Greenhouse Gas (GHG) Offset Credit SystemTORONTO, ON / ACCESSWIRE / June 16, 2022 / Big Tree Carbon Inc. (the \"Company\" or \"Big Tree\") (TSXV:AGO) is pleased to recognize that the Government of Canada (\"Canada\") has published the Canadian Greenhouse Gas Offset Credit System Regulations (\"GHG OCSR\") in the Canada Gazette and has activated the Credit and Tracking System (\"CATS\").The GHG OCSR enables project proponents to generate federal offset credits if they register and implement projects that reduce Greenhouse Gas (GHG) emissions or remove GHGs following a published federal offset protocol. Offset credits can be sold and used for compliance by facilities covered in the federal Output Based Pricing System (\"OBPS\") or sold and used by others who are looking to meet voluntary climate targets or commitments.Canada's CATS is live and will be used to track registration, reporting and federal offset credit issuance, transfer, retirement, suspension, revocation, and cancellation as well as compliance obligations and remittance of compliance units and any payments under Canada's Greenhouse Gas (GHG) Offset Credit System.Canada had also released a publication entitled \"Carbon Pollution Pricing: Considerations for Facilitating Indigenous Participation in the Federal GHG Offset System\" (the \"Indigenous Participation Protocol\"), which is available for public comment until September 2, 2022. The Indigenous Participation Protocol describes Canada's vision of inclusion of First Nations within the GHG OCSR framework, which very much fits Big Tree's vision of inclusion of First Nations developed over the past 15 years. Big Tree is continuing to focus its business on enhancing its ongoing relationships with First Nations across Canada.The Indigenous Participation Protocol indicates that Environment and Climate Change Canada (\"ECCC\") is currently in the process of developing a federal GHG offset protocol to recognize GHG reductions achieved through improved forest management practices. ECCC has also indicated the potential for future development of federal GHG offset protocols for forest-based project types to recognize carbon sequestration from afforestation/reforestation and avoided carbon release through avoided conversion of forests. These protocol...