The Carbon Offset trading market has seen a significant increase in activity during recent years. As more industries, including the oil and gas sector, move towards net-zero carbon emissions, many companies are investigating ways to generate or purchase carbon offsets to achieve their long-term goals. The province of Alberta, Canada has had a carbon registry since 2007 and has 21 approved carbon offset quantification protocols. Most recently, the Pneumatics Protocol was introduced to allow oil and gas producers to generate carbon offsets by eliminating gas powered instruments at facilities.
The carbon offset program is an ever-evolving system that requires time and expertise to continuously monitor for new opportunities. In the coming years, it is predicted that demand for these offsets will rise significantly across many sectors due to existing offsets expiring. With more industries finding ways to monetize these programs and with increased demand for emissions reduction, is your organization following suit?
How does it all work?
While regulatory structures change geographically, the premise remains the same. Emissions offsets, typically referred to as carbon credits, can be generated when an individual, industry, or community voluntarily reduces its greenhouse gas (GHG) emissions or stores them before entering the atmosphere.
Every individual carbon credit represents a reduction of one tonne of carbon dioxide equivalent (tCO2e). This equivalency also applies to methane since methane has approximately 25 times the global warming potential (GWP) of CO2. Methane reduction presents an important environmental and monetization opportunity for many organizations in the energy sector.
Once a project is operational, data gathering becomes critical in order to monetize these credits. Carbon credits must be measured and tracked so that environmental registries can certify and regulate how they are created. From here, these credits can be bought and sold in special emissions markets just like any other commodity.
How can my organization get started?
A variety of projects can generate credits for your organization provided they meet the requirements of the quantification protocols developed by the Government of Alberta.
These protocols provide consistent methods for both estimating baseline emissions and determining a project’s actual emissions. Projects must meet the requirements set out by the Technology Innovation and Emissions Reduction (TIER) regulation in addition to the Standard for Greenhouse Gas Emission Offset Project Developers.
Of course, one size never fits all when it comes to reducing emissions. At Clear Rush Co. we take pride in our ability to work with clients to design, build, and commission tailor-made solutions that help organizations meet their goals. We find funding opportunities for you and commission projects on-time, on-budget, and with exceeding compliance.
Don’t wait any longer.
We understand that all this can seem complicated.
Clear Rush Co. has worked hard to understand how the emissions markets have evolved and what trends are emerging for the future. With our recent partnerships, industry connections and technical expertise, we are well positioned to help organizations like yours navigate the complexities of the emissions markets. Compliance and value creation are what we do best.
The opportunity is now – why wait?
Clear Rush Co. the clear choice!