After reading your Jan. 22 editorial it is clear that I need to set the record straight about how carbon markets work. Developing a homegrown carbon offset market will not only help transition this province into the emerging low-carbon economy, but it is already providing British Columbians with green jobs, innovations and new technologies.
People in Prince George are first-hand witnesses to the impacts of climate change. They have seen erratic weather cause a record number of wildfires, more ice jams and flooding on the Fraser and the Nechako rivers and a worsening of the mountain pine beetle epidemic. It is clear that the combustion of high-carbon fossil fuels is part of the problem.
The question is how to transition to a low-carbon economy?
Since 2008, the government has been laying the groundwork with the Climate Action Plan, which establishes a low-carbon blueprint for the province and identifies the economic opportunities in a climate friendly British Columbia.
Government is getting its own carbon house in order by committing to being carbon neutral this year. We are doing that, first by reducing and conserving energy and second by purchasing carbon offsets.
Investing in carbon offsets means funding projects that result in measurable emission reductions and neutralize carbon pollution. The Pacific Carbon Trust, the Crown Corporation created to oversee carbon offsets, is already investing in made-in-B.C. projects that include community level energy efficiency and fuel-switching solutions.
At a global carbon offset market valued in 2009 at $143 billion dollars, this isn't just about altruism, it's about opportunity.
John Yap
Minister of State for Climate Action
