CARBON CREDITS IN ONTARIO AND QUEBEC
How to choose your carbon credits to reach net zero or carbon neutrality?
Do you want to offset your unavoidable GHG emissions? Will Solutions is the expert to choose for purchasing carbon credits and helping you achieve your sustainable development goals.
We offer carbon credits to help businesses achieve their carbon offsetting and carbon neutrality goals. Take advantage of the expertise of our experienced staff to guide you through the process of understanding carbon credits and making the right decision for your business.
Learn more about offset credits and how to obtain carbon credits with Will Solutions.
What is a Carbon Credit?
There are different types of carbon (offset) credits, such as regulated credits and voluntary credits. These credits were designed in direct response to climate change and with the aim of stimulating the reduction of GHG emissions by companies. Will Solutions offers high-quality voluntary credits to help companies achieve their carbon neutrality (or net zero carbon) goals.
Now, discover the difference between regulated and voluntary carbon credits.
Regulated carbon credits
Regulated credits are strictly overseen by governments and are generally aimed at the biggest polluters. These credits differ greatly from the voluntary credits sold by Will Solutions, which are carried out beyond any regulatory obligation and are therefore unrestricted.
Voluntary carbon credits from Will Solutions
Most organizations are not subject to the regulated carbon market. As their name suggests, voluntary carbon credits are purchased on a 100% voluntary basis, so there is no notion of caps, emission rights, obligations, or fines.
Similarly to regulated credits, 1 voluntary carbon credit is equivalent to a reduction of one ton of carbon dioxide. These credits are therefore primarily aimed at companies that wish to demonstrate their commitment to fighting climate change.
Don’t hesitate to speak with an expert in offsetting your incompressible GHG emissions from Will Solutions to obtain the ideal carbon credit for you.
Renowned companies trust us for their carbon offsetting commitments
How do carbon credits work?
Each voluntary credit sold by Will Solutions is serialized, ensuring that the company has carried out a project to reduce GHG emissions equivalent to one ton of carbon dioxide.
Serialization also ensures that each carbon credit is unique, measurable and traceable.
Finally, our carbon credits are derived from our registered methodology (VM0018), and subsequently verified by Verra.
1 carbon credit is equivalent to one ton of CO2. Companies like Will Solutions that carry out carbon storage or emissions reduction projects market these offset credits to offset the unavoidable emissions of the organizations that purchase them. Our voluntary credits are therefore part of any good ESG strategy (environmental, social, and governance). Their purchase literally finances the very initiatives that reduce GHG emissions (these reductions otherwise would not have taken place).
This innovative approach aims to offset the emissions present in the atmosphere and prevent future CO2 emissions from spreading into the atmosphere. Thus, any of our carbon offsetting projects in Quebec and Ontario has an immediate and local impact on GHG emissions.
How much does a carbon credit cost?
The price of a carbon credit varies according to the elements of the ecological project, such as the nature of the project, the location, the standards, the cost of labour, and of course supply and demand. The average price of carbon credits is increasing since 2019. This trend shows that more and more organizations are choosing carboneutrality and net zero pathways as one of their major ESG target.
To purchase voluntary carbon credits at the right price, don’t hesitate to check out our Sustainable Community project, to understand how our carbon credits are created. We offer community-based carbon credits at a reasonable price for companies that want to achieve their Sustainable Development Goals (SDGs).
Why buy carbon credits?
Companies that are subject to rigorous ESG strategies and policies will find numerous advantages in acquiring carbon credits. Learn more about this subject thanks to Will Solutions, your carbon markets specialist.
Why purchase voluntary carbon credits?
In addition to being good for the environment, buying voluntary carbon credits is great for an employer’s brand image. By acquiring voluntary credits, the company’s perceived value increases. This demonstrates their respect for an ESG policy and more specifically their direct action to achieve carbon neutrality.
It’s also a good way to build customer loyalty and support a local, circular economy.
Will Solutions offers you volontary carbon credits :
That are local and 100% Canadian
Generated from GHG reductions at source (real, non-anticipated reductions)
70% from methane avoidance projects (around 80 times the greenhouse potential of Co2 over the first 20 years))
Contributing to the voluntary green transition of over 150 small and medium-sized emitters
With co-benefits on 6 of the 17 United Nations Sustainable Development Goals
How to qualify your reduction projects to sell them as carbon credits: carbon footprint measurement service
While there are many ways to buy carbon credits, the reverse is also true. There are many ways to sell your GHG reductions/sequestrations. Will Solutions has chosen to take charge of the costs, quantification, verification and marketing of its members’ emission reductions, to facilitate the climate commitment of small players.
Will Solutions also offers a carbon footprint measurement service that allows companies to track the progress of their gas emission reduction projects.
Who are the issuers (Supply) of carbon credits?
As mentioned above, there are two types of carbon credits: regulated credits, which are fully overseen by the government, and voluntary carbon credits. Voluntary credits come from programs created by private initiatives—for example, a company such as Will Solutions, as a project developer (we are not a carbon reseller).
Programs such as VCS (administered by Verra) regulate the use of independent third parties to verify the tonnes of GHG reductions carried out beforehand and to ensure the quality of each carbon credit created, as it is the case at Will Solutions.
This type of credit also recognizes emission reductions or the removal of one tonne of GHGs from the atmosphere (source reduction projects). Furthermore, this is a way for companies to stand out and get recognized for their willingness to reduce the impact of their activities on the environment.
Carbon credits: greenwashing or real commitment for the planet?
Like all new markets, the voluntary carbon markets had a few bumps in the road in its earliest years. In 2023, the markets are now more transparent than they used to be. The markets are on their way to being established, standardized, and uniform. Programs and independent third parties, verifiers of methodologies, audits, and calculation standards are ensuring quality standards and giving carbon credit buyers guarantees of carbon credits’ quality.
By meeting the 5 quality prerequisites for carbon credits upstream (VM0018 Verra methodology), our purchasing customers can offset their emissions with peace of mind and contribute to the decarbonization of the climate and infrastructures.
When buying any carbon credits, make sure to always:
- Check whether these units are related to a regulated or voluntary offsetting project.
- In the case of a private organization, check whether this organization has already carried out several projects aimed at reducing greenhouse gas emissions. If these projects have been carried out in collaboration with known companies or organizations, you can check with them.
- Check whether this project is certified by a program that provides for the use of a specialized independent third party (the best known are the VCS program from Verra, Gold Standard, or the American Carbon Registry).
Purchasing carbon credits used for offsetting involves risks. Concerning greenwashing, we hear of companies claiming to be carbon neutral when they aren’t.
When this checklist is respected, carbon credits are not greenwashing, but a measured, concrete, voluntary, pragmatic and community-based climate action. Why? Because the purchase of valid, certified carbon credits finances the very projects that ONLY exist by virtue of being part of the Voluntary Carbon Markets. Their purchase makes it possible to communicate the results of a real commitment to the environment. Finally, it is a complementary action after avoiding and reducing your own greenhouse gas emissions, as there will always subsist residual GHG emissions for any given organization.
A company can commit to carbon neutrality for all its activities or simply for one product segment, depending on its needs.
Purchase carbon credits with Will Solutions
Do you want to take concrete action against global warming and aim for carbon neutrality? Did we mention that Will Solutions is a B Corp-certified Canadian private company. We are an active player in the field of voluntary carbon credits in Canada, with our two cluster projects based in Quebec and Ontario.
Our team has also been committed to the fight against global warming since 2007. Our mission? To help companies with their sustainable development projects for their business.
The 5 mandatory prerequisites for a carbon credit to be valid
- Avoidance of double counting
- Conservative estimation
- Positive impact and no association with social and environmental damage
Will Solutions are proud to meet all of these prerequisites. To learn more about the 5 mandatory prerequisites for carbon credit quality, read Verra’s article or discover how WILL’s carbon credits are meeting these prerequisites.
Once these prerequisites have been met, there are 5 main differentiating elements for the various types of voluntary credits:
- The nature of the projects: There are 3 groups—source reduction, nature-based solutions, and carbon-capture technologies via engineering projects.
- The location of the projects: the project may vary depending on the territory’s natural specificities, quality standards and local regulations.
- The impact on the Sustainable Development Goals (SDGs). There are 17 different goals.
- The rigour of the projects: Highlighted by their supervision under demanding independent certification programs, such as VCS (Verra) or Gold Standard, and standardized calculation methods.
- The benefits for the initial project leaders: including economic, environmental and social benefits.
At Will Solutions, our carbon credits are generated by our Sustainable Communities, a unique agglomeration of micro-projects aimed at reducing GHGs at the source. Unlike sequestration projects, GHG reductions converted into carbon credits are guaranteed.
Purchasing our carbon credits allows you to participate in 3 types of initiatives that are the basis of the Sustainable Community model: energy efficiency and conversion of buildings, the improvement of waste management, and soon the decarbonization of transportation. We are also one of the few large-scale projects from Canada to appear in the Verra Registry.
Finally, for each voluntary credit purchased, you are contributing to the achievement of 6 of the 17 United Nations Sustainable Development Goals (SDGs), particularly goals 9, 10, 11, 12, 13, and 17.
You can trust Will Solutions to support you in the development of eco-responsible business measures.
Contact one of our carbon consultant to find out how our voluntary carbon credit sales service helps you offset your greenhouse gas emissions.
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Carbon Credits FAQ
1. How do carbon credits contribute to the decarbonization of society? I've heard of greenwashing about carbon credits...
First of all, voluntary carbon markets are a major tool in the solution, even if they are not the only lever to activate. It is essential to apply the mitigation hierarchy (measurement, avoidance, reduction and then carbon offsetting) in order to reach our climate targets.
However, carbon credits are one of the only realistic levers of action that can accelerate and finance the ecological transition and the reduction of anthropogenic GHG emissions on a large scale. The UNFCCC supports the use of voluntary carbon credits as an essential step towards “Net Zero” from 2030 to 2050.
Second, our premium carbon credits deliver not only GHG reductions at the source but also additional climate and societal benefits. Indeed, our carbon credits are 100% local, are derived from GHG reductions at source (ex-post), are serialized, offer a high monetary return to small and medium-sized initial project developers, are verified by a structured MRV (Monitoring Reporting and Validation) program including third-party verification (Verra) and contribute to 6 United Nations Sustainable Development Goals (SDGs).
In conclusion, high-quality carbon credits are therefore an essential transitional tool that allows organizations committed to an ESG or Net Zero policy to go beyond the carbon reduction of their activities by offsetting their incompressible residual emissions and at the same time contributing to the financing of GHG reduction projects of other stakeholders!
2. How do you ensure that you are not double counting?
We ensure single counting (and therefore avoid double counting) through various measures:
- Serialization: all our carbon credits have a unique serial number, ensuring the uniqueness of each carbon credit and its indelible link to the associated ton of CO2e.
- Dual public registry: our third-party verifier Verra maintains a public registry, but we also maintain our public registry Will to ensure quality control, accessibility and transparency for all to our carbon inventory.
- Retirement: all of our carbon credits are retired following a purchase, for the benefit of the buyer and to ensure ownership of the associated GHG reductions.
- Control: we control the entire value chain, from the production of GHG reductions to the sale of carbon credits. This gives us better overall control over the standards of quantification, transparency, serialization and conversion of a ton of CO2e into a carbon credit.
3. How do you ensure the additionality of your projects?
We ensure the additionality of GHG reduction projects at different levels:
- Financial additionality: based on Will’s business model which is based on the sharing economy, i.e. to finance and assume all the risks of the quantification and monetization process for all participants (members). Thus, without the carbon revenues from sales, the Sustainable Community cluster project (developed according to the VM0018 methodology) would not exist.
- Unique business model: our core mission is to expand participation in climate action to all stakeholders in society by facilitating and democratizing access to voluntary carbon markets (VCMs) for tens of thousands of organizations/voluntary reducers. That’s why we offer them a no-cost, no-risk service to remove disincentives and provide a unique incentive for the financing and development of decarbonization projects. Moreover, the vast majority of these reducers would not have been able to realistically access the voluntary markets on their own (costs, time, expertise), to carry out the monetization process of their GHG reductions.
- Methodology: our business model is based on the VM0018 methodology (version 1.0), the world’s first cluster methodology and certified by the VCS program (in 2012). All of our carbon credits come from cluster projects (Sustainable Community) which are based on this methodology. This ensures from the start the specifications of each Sustainable Community, which are the basis of our carbon credits, ensuring at the source the quality standards as well as the additionality, aligned with those of Verra. Thus, it is approximately 50% of the projects submitted by our GHG reducing members that we have to reject, as they do not meet the eligibility and additionality requirements defined by this methodology. In January 2023, Will entered into a process to update this methodology to include GHG reductions related to the transportation segment.
- MRV Process: Each GHG reduction project that qualifies under Will’s Sustainable Communities is subject to a Monitoring, Reporting and Verification (MRV) process that is performed in harmony with the updated versions of Verra’s VCS program, currently version 4.4. At the end of the MRV process, our accepted and quantified GHG reductions are submitted to a Verra-recognized third-party verifier. Finally, Verra performs a final validation to obtain and issue the VCU serialization associated with each carbon credit.
4. What types of projects will I support with my carbon credit purchase?
Our Sustainable Community of Quebec (SQC) cluster project is currently supporting more than 850 carbon reduction micro-projects! Buying our carbon credits allows you to simultaneously contribute to the financing of all these projects at once!
Our Sustainable Community project allows you to contribute to regional GHG reductions in Quebec (CDQ) and the Sustainable Community of Ontario (CDO). Through your purchase, you contribute to a more local and circular economy, and to the support of small local GHG reducers (SMEs, municipalities and NPOs – our Sustainable Community members).
All our members’ projects are source-reduction projects. The GHG reductions have been achieved (ex-post) before being converted into verified carbon credits, so they have an immediate impact, are guaranteed, and are fully permanent.
Through your carbon purchase, you contribute directly to reducing the carbon intensity of the economy, industry and infrastructure. Your purchase also contributes to the support of the green economy and to Canadian know-how in this field.
Finally, there are three main categories of eligible projects: energy conversion (e.g. switching from oil to solar panels), energy efficiency (e.g. thermal insulation of a building or reduction of energy consumption of a building through its optimization by artificial intelligence) or optimization of waste treatment (e.g. recycling of waste and reuse as raw material). Scheduled for the beginning of 2024, projects related to the decarbonization of transport should be added to our eligible project types!