Earlier, we exclusively reported the Pacific Carbon Trust expects to be annually purchasing between 600,000 to 900,000 tonnes of greenhouse gas emission offsets by 2010 to compensate for the provincial government's greenhouse gas emissions. But what does that mean to taxpayers? Well, in an email to Public Eye, the finance ministry acknowledged the price of those offsets can "vary quite widely." So "full cost information will not be available until the market has been fully tested through a procurement process." Nevertheless, the province earlier announced public sector organizations will initially be required to pay the trust $25 for each tonne of emissions they need offset. "From this revenue," the finance ministry added, it's expected the trust will "recover all costs (offset acquisition, operational expenses, administration overhead) associated with acquiring qualifiying GHG offsets and providing them to PSOs." Which means government could be spending up to $22.5 million each year on carbon credits by 2010.
July 23, 2008