The Pacific Carbon Trust was setup in 2008, during Premier Gordon Campbell's climate action craze, to sell British Columbia-based carbon offsets. Those offsets fund in-province projects that reduce greenhouse gas emissions, being purchased to compensate for an emission elsewhere. But a review of the trust's service plans shows the Crown corporation's offset sales targets have repeatedly been downgraded. For example, in 2009, the corporation budgeted its offset revenue for fiscal 2009/10 would be $3.25 million. Then, in 2010, the income for that fiscal year was forecasted to be $1.52 million. The actual result: $913,000 - with $859,261 coming from the public sector clients and just $53,425 coming from private sector clients. In an email, a spokesperson for the trust said those targets were missed because reduced government travel meant a reduce need to buy carbon offsets.
February 24, 2011