March 5, 2021
The federal government has unveiled the draft regulations for its Greenhouse Gas Offset Credit System, which is designed to facilitate the generation and trade of credits for projects and practices that reduce greenhouse gas emissions.
“The development of the Federal Greenhouse Gas Offset System will mean farmers can be recognized and rewarded for reducing greenhouse-gas emissions on their farms by implementing practices that improve the carbon sequestered in their soil,” notes Agriculture Minister Marie-Claude Bibeau, in a statement.
While the regulations are published in the March 6 edition of Canada Gazette, they mainly cover the over-arching requirements under the system — the actual details on how farms will earn and get paid for these offsets is still to be determined.