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Nov. 28 — Ontario is considering incentives for new forests on private and government land as carbon offsets to help the province meet its climate change targets.
A market-driven approach to forest management would take advantage of the province’s cap-and-trade market for greenhouse gas emissions that launches in 2017, the Ministry of Natural Resources and Forests said.
“Forest carbon offset projects may help overcome some of the current financial barriers to investing in forest management activities that reduce greenhouse gas emissions or increase carbon storage,” the ministry said in a discussion paper posted Nov. 22 on the Environmental Registry.
Offsets could be provided for measurable activities that reduce emissions or increase carbon storage that go beyond “business as usual” forest management practices, it said. Those activities would generate offset credits for sale under the cap-and-trade program.
The proposal is open to public comment through Jan. 23, 2017.
Ontario is committed to reducing greenhouse gas emissions by 15 percent from 1990 levels by 2020, 37 percent by 2030 and 80 percent by 2050.
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