The voluntary market is the counterpart of the regulated one. It covers all installations, buildings or properties that are not subjected to a regulated carbon market.
The voluntary market is the counterpart of the regulated one. It covers all installations, buildings or properties that are not subjected to a regulated carbon market. Generally speaking, there are no laws or regulations that prevent private or voluntary sponsorships in both health (hospital private foundations) and education (university or college foundations). The same is true for the carbon market. In Quebec, none of the GHG reductions covered by the Sustainable Community project are linked to the regulated market (SPEDE). They are only offered on the voluntary market.
Will’s Sustainable Community project is especially active at the non regulated level. The project stimulates and encourages, through the use of economic recognition such as sponsorships, for each installation, building or property not subjected to the regulated market (about 99% of all buildings in the Province of Quebec). This economic recognition is used as a stimulus for action and change and provides carbon revenues in line with measured and verified efforts. Considered taxable income, economic recognition will generate additional fiscal revenues with a significant portion coming from outside the Province of Quebec. This constitutes a positive gesture in Quebec’s balance of trade.
The recognition of the role, pertinence and synergy of the voluntary market by our government is the perfect way to reach GHG reduction targets of 20% and even 25% in 2020 (ref. 1990). In general, implementing new systems brings new challenges in both the integration of carbon cost and double accounting. There are solutions. We will return on this issue in a subsequent blog.
…Because a civil and a community approach is a guarantee of sustainable change, all organizations gain by integrating Sustainable Community. The implication of small and large GHG emitters provides, in reciprocity, recognition and reinforces the steps converging towards worldwide carbon pricing. While we are moving towards a possible consensus on the renewal of Kyoto Protocol II (KP2) in Paris in 2015, why not join the Quebec enterprises that have chosen to monetize their efforts… excerpt from Will’s Manifesto II.
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Martin Clermont, CEO, Will Solutions