Increase in the allocation price of a ton of CO2eq on mars 11

greenhouse gas offset program, through tree planting
March 6 2024

Since 2008, Carbone boréal has demonstrated the validity of its three initial hypotheses. It is possible to reforest areas deemed unproductive in the boreal zone on public and private lands and sequester measurable quantities of carbon. These can be allocated in compliance with voluntary carbon market mechanisms to citizens, institutions or companies wishing to offset their greenhouse gas emissions in return for a research donation. More than 130,000 tonnes of CO2 equivalent have been recorded in the Carbone boréal register. The reference price per tonne of CO2 for donations was determined on the basis of projected growth of a black spruce tree for 70 years by subtracting the emissions from the life cycle of a plantation. This study showed that 7 spruce trees were needed to compensate for 1 ton of CO2 eq. Currently the allocation of a tree from Carbone boréal plantations requires a donation of $5, which corresponds to $35 per ton.

The governments of Quebec and Canada have implemented pricing mechanisms for greenhouse gas emissions, the prices of which are expected to change each year. During the WCI last auction on February 14, 2024, on which the large emitters of Quebec are registered, the price was $56.61. According to the MELCCFP, the price per ton could reach $97 in 2030. For its part, the rate of Canada’s carbon tax was at $80 in 2024, and could reach $170 per ton in 2030. To avoid that the difference between the Carbone boréal offsets and the price of the regulatory markets be too great, the price per tree will increase to $6, or $42/ton on March 11. Regular adjustments will be made in the future to avoid a too great gap, in proportion to market evolution.

The money collected by Carbone boréal supports our research activities in the fight against climate change and entitles donors to tax deductions. As our expenses are subject to inflation, this adjustment mechanism will allow us to maintain our level of activity. The Carbone boréal team and the University of Quebec at Chicoutimi would like to thank its generous donors for continuing to place their trust in us for the real, transparent and verified offset of their greenhouse gas emissions.

 Patrick Faubert and Claude Villeneuve

Co-directors of the Carbone boréal research infrastructure

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