Results for the First 2007 Compliance Year - Specified Gas Emitters Regulation

First compliance results of the 2007 half-year (July 1 to December 31) showed that companies made 1.7 million tonnes of actual greenhouse gas emission reductions through internal operational changes, and utilized the Climate Change and Emissions Management Fund for ~68%, used Emission Performance credits (6.8%) and purchased verified emission offsets created through voluntary projects implemented in Alberta for ~25% of available compliance options.

Alberta-based Offset Credit Purchases – 1.0 Mt CO2e

Regulated facilities purchased almost 1.0 Mt worth of offset credits that were created following one of the Alberta-government approved quantification protocols, were verified by a third party and registered on the Alberta Offset Registry.  Offset credits used for compliance were seen from the following project types: Tillage Management (21%), Landfill Gas Capture (31%), Biomass Energy (3%), and Wind Energy (45%).

Fund Payments – 2.7 Megatonnes (~$40 million)

Companies chose to pay approximately $40 million into the Climate Change and Emissions Management Fund, which will invest in projects and technology to reduce greenhouse gas emissions in Alberta.
The fund will operate as not-for-profit entity separate from the Alberta government. It is expected the entity will be formed in spring 2009, and will begin to accept applications for funding later in fiscal 2009-10. 

Improvements to Operations – 1.7 Megatonnes

Companies made improvements to their operations that resulted in 1.7 Megatonnes of reductions. For example, a facility could have installed a more efficient boiler or more effectively use energy such as steam that would otherwise be released by the facility.

Emission Performance Credits – 1.0 Megatonnes