WILL Solutions welcomes the Quebec government’s decision to allow projects that sequester greenhouse gases (GHGs) through afforestation or reforestation on private land to participate in the Carbon Exchange (SPEDE). This is an encouraging step not only to stop the “capital flight” to California but also to allow companies that need carbon credits to encourage and support the Quebec economy.
Solutions Will considers that the estimated potential of 40 K tons/year of carbon credits offered on the SPEDE is a step in the right direction, but a very modest one. This is why it encourages the Quebec government to authorize the various GHG reduction projects carried out by Quebec SMEs, NPOs, and municipalities, under the Voluntary Carbon Markets (VCM), to participate in the Carbon Exchange. Between 4 and 5 million tons/year of GHG reductions could be stimulated, converted, and potentially offered as carbon credits. This would be beneficial for the Quebec economy and the government’s public finances, in addition to contributing to the achievement of Quebec’s 2030 and 2050 climate objectives.