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Environment Canada to use Gold Standard credits for United Nations Climate Change conference offset

"These credits are part of a wider initiative to make COP11/MOP1 carbon neutral by using domestic emission reductions which will be retired by the Government of Canada and other Canadian organizations”, says an Environment Canada Official. “By supporting a renewable energy project in Honduras we show Canada’s commitment to assist developing countries using the flexible mechanisms as a pathway for a cleaner energy future.” By hosting the United Nations Climate Change Conference as a carbon neutral event, the Government of Canada wants to take concrete action in addressing climate change and lead by example for future international meetings. 

The Gold Standard CDM project in Honduras – developed by Energia Ecologica de Palcasa (EECOPALSA) will use biogas from wastewater treatment to generate electricity and reduces emissions by displacing fossil fuels and recovering methane, a potent greenhouse gas. Jan-Willem Bode, Manager Corporate Carbon Solutions at Ecofys, who developed the project as a Gold Standard project, explains that “Canada’s decision will facilitate a project that helps the climate and brings power to the local population by cleaning up local environmental pollution”. 

"Bringing sustainable development benefits to the people in the south is a key element of the Kyoto protocol, whose first outcomes and future are currently discussed at the COP11/MOP1”, says Michael Schlup, Director of the Gold Standard, the carbon markets label for high quality certificates, which has broad backing from NGOs as well as other stakeholders.

Gold Standard credits mean increased reputation for investors and above market carbon prices for project developers whilst directly supporting sustainable development strategies in host countries, the combination of which can contribute to the successful implementation of projects that might otherwise not be implemented. “Buyers’ requirements for their credit purchases are varying”, says Corinne Boone, Managing Director of carbon broker CO2e.com who facilitated the transaction. She added that “The Gold Standard label is the guarantee for buyers that their credits will comply with, and in fact go beyond, the Kyoto rules, be delivered and contribute to sustainable development.”