Carbon Markets in BC
Focus Category: Green Economy
Published: December 13, 2021
Focus Category: Green Economy
Published: December 13, 2021
While carbon markets come in diverse forms with variations between regions, they may generally be divided into two categories:
Vancouver players have been swift to capitalize on BC’s early leadership in carbon pricing and regulations. Combined with the City of Vancouver’s own emissions-reduction policies, regulations and strategies – such as the Climate Emergency Action Plan – carbon markets and related instruments, such as offsetting, will continue to play a significant role in meeting these targets and in climate action.
In early 2021, compliance carbon markets alone were estimated to be worth a total $US 272 billion – a 20% increase over 2019.
It’s clear carbon markets have an enormous role to play, however. This report is a guide to leveraging them as a financial or market opportunity as well as a crucial tool to decarbonize British Columbia in the post post-Paris Agreement world.
David Oliver (Lead), CEO and Co-Founder, Greenlines Technology
George P.R. Benson (Supporting), Manager, Economic Transformation, Vancouver Economic Commission
Brianna Bishop (Supporting), Analyst, Economic Transformation, Vancouver Economic Commission
With editorial support from Claire Campbell and Sonu Purhar