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.
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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. \u00a0In 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.<\/p>\n
Will\u2019s 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\u2019s balance of trade.<\/p>\n
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). \u00a0In 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.<\/p>\n