Ministry of Environment

Greenhouse Gas Reduction (Cap and Trade) Act

The Greenhouse Gas Reduction (Cap and Trade) Act was given Royal Assent on May 29, 2008. This Act, which came into force by regulation of the Lieutenant Governor in Council, provides the statutory basis for setting up a market-based cap and trade framework to reduce greenhouse gas emissions from large emitters operating in the province. Minor amendments were made to the Greenhouse Gas Reduction (Cap and Trade) Act in 2010.

British Columbia was the first Canadian province to introduce legislation authorizing hard caps on greenhouse gas emissions. The Act enables B.C. to implement a cap and trade system, the design of which is being discussed with the partners in the Western Climate Initiative, a multi-jurisdictional partnership launched in February 2007.

A cap and trade program is one method of pricing carbon to reduce emissions. Carbon pricing applies a market price on greenhouse gas (GHG) emissions to reflect the value or cost of achieving a greenhouse gas reduction target. To learn more about how cap and trade works with the rest of B.C.’s carbon pricing strategy, see:

    Regulations

    • Reporting Regulation - sets out the requirements for the reporting of greenhouse gas emissions from B.C. facilities emitting 10,000 tonnes or more of carbon dioxide equivalent emissions per year beginning on January 1, 2010.

    Regulations Under Development

    On July 27, 2010, the Western Climate Initiative released its Design for the Regional Program, which provides the detailed framework for the cap and trade program.  B.C. consulted on two proposed regulations that will enable implementation of the cap and trade system. For more information on these proposed regulations see:

    Comments and response forms should be submitted by December 6, 2010.

    Webinar - December 3, 2010

    The Ministry hosted a two-part information session introducing Emissions Trading (9am to 10:30) and Offsets (10:30 to 12 noon) consultation papers as part of the consultation period.

    Date: Friday, December 3, 2010
    Time: 9:00 AM - 12:00 PM

    Please see the webinar page for more information.

    Webinar - October 25, 2010

    The Ministry hosted an information session introducing the Emissions Trading and Offsets consultation papers process near the start of the consultation period.

    Date: Monday, October 25, 2010
    Time: 11:00 AM - 12:00 PM

    Please see the webinar page for more information.