Canada buys greenhouse gas emission credits from projects in South Africa and Brazil.
Last month Canada's Ministry of the Environment continued taking its first steps in the business of trading greenho...
Last month Canada’s Ministry of the Environment continued taking its first steps in the business of trading greenhouse gas emission credits.
The Ministry bought emission credits from an energy efficiency housing project in South Africa, and earlier from a biomass power generation project in Brazil in order to offset the emissions generated in holding two environment conferences. It bought credits from the South Africa project to offset the G8 Environment Ministers meeting held in April, and bought credits from the Brazilian generation project to offset the Health and Environment Ministers of the Americas meeting held in March.
Together the carbon dioxide generated by the two conferences in attendees’ travel, hotel accommodation etc. were calculated at 1,900 tonnes. The amount was comparable to the amount of greenhouse gases generated by 273,000 vehicle round-trip commutes.
To neutralize these emissions, the ministry purchased credits from the two projects in the developing countries.
In the South African housing project the funds from the sale of the emission reductions will be used to purchase ceilings, insulation and other energy efficient features, according to Dr. Lilia Abron, president of PEER Africa Pty., the engineering firm working on the project.
The trading transactions were facilitated by CO2e.com, a subsidiary of the Cantor Fitzgerald Group.
Carlos de Mathias Martins Jr., Director of Ecoinvest of the biomass project in Brazil, said “emissions trading illustrates the potential for integrating renewable energy projects with sustainable development in development nations… The international nature of this emissions trading demonstrates how countries and corporations can co-operate to attain meaningful and mutually agreeable environment benefits.”
Environment Canada is also taking numerous measures to ensure the G8 Environment Ministers meeting is environmental sustainable, including purchasing wind power from Alberta energy company, Enmax, to offset the electricity used during the meeting.