Name of Mechanism
Quebec Offset Crediting Mechanism
Quebec offset credits
Governmental
Implemented in 2013
Quebec
Eligible Activities
Countries Hosting Projects:
Description:
The government of Quebec established a crediting program that issues Quebec offset credits intended for organizations wanting to meet compliance obligations under the ETS. Those credits can also be bought and traded by voluntary market participants (individuals and organizations). A reform of the offset regulatory framework was adopted in 2021. The reforms allow the Minister to adopt a ministerial offset regulation for each project type (replacing protocols embedded in the ETS regulation), thereby facilitating revision and adoption of new regulations.
Recent Developments:
A regulation respecting manure anaerobic digestion was adopted on December 13, 2023.
A public consultation took place from August 23 to October 6, 2023 regarding the Regulation to amend the Regulation respecting halocarbon destruction projects eligible for the issuance of offset credits. Analyzing the received submissions as part of the public consultation took more time than expected, consequently the entry into force of the regulation will not take place on January 1, 2024, as stipulated in section 27 of the draft regulation. Work continues for a possible enactment of the regulation during the spring of 2024.
Relation to Compliance Carbon Pricing Instruments or other Voluntary Schemes in the country:
Quebec ETS, California ETS
