British Columbia's Carbon Credit Market
In British Columbia, the carbon credit market operates within the framework of the Low Carbon Fuels Standard (LCFS), a key strategic policy aimed at reducing greenhouse gas emissions in the transportation sector. It establishes yearly carbon intensity targets for the transportation sector that gradually decrease over time. Importers and refiners of carbon-intensive fuels like gasoline and diesel accumulate deficits, which they offset with credits. To achieve compliance, they can purchase LCFS credits from providers of lower emitting alternatives such as electricity, biofuel, or renewable diesel. Each credit represents a reduction of one metric ton (MT) of carbon dioxide equivalent (CO2e).
The market for carbon credits in British Columbia is dynamic and evolving, driven by the Province's commitment to combating climate change and transitioning to a low-carbon economy. Within this context, Carbon Bridge plays a crucial role in facilitating the aggregation and trading of carbon credits, helping businesses navigate the regulatory landscape and maximize the value of their investments. By leveraging its expertise and network, Carbon Bridge empowers its customers to achieve their sustainability goals while driving positive environmental and economic outcomes in British Columbia's carbon credit market.