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GREENHOUSE GAS POLLUTION PRICING ACTENVIRONMENTAL VIOLATIONS ADMINISTRATIVE MONETARY PENALTIES ACTCanadian Greenhouse Gas Offset Credit System RegulationsP.C.2022-52920225
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Her Excellency the Governor General in Council, on the recommendation of the Minister of the Environment, makes the annexed Canadian Greenhouse Gas Offset Credit System Regulations pursuant tosections 192 and 195 of the Greenhouse Gas Pollution Pricing Acta; andsection 5b of the Environmental Violations Administrative Monetary Penalties Actc.S.C. 2018, c. 12, s. 186S.C. 2019, c. 28, s. 180S.C. 2009, c. 14, s. 126Interpretation
DefinitionsThe following definitions apply in these Regulations.Act means the Greenhouse Gas Pollution Pricing Act. (Loi)authorized official meansin respect of a proponent who is an individual, that individual or another individual who is authorized to act on their behalf;in respect of a proponent that is a corporation, an officer of the corporation who is authorized to act on its behalf; andin respect of a proponent that is another entity, an individual who is authorized to act on its behalf. (agent autorisé)Compendium of Federal Offset Protocols means the document, entitled Compendium of Federal Offset Protocols, that contains the protocols developed by the Department of the Environment and that is published by that Department on its website. (Recueil des protocoles fédéraux)crediting period means, with respect to a project, the period determined in section 5 or the period set out in the protocol during which offset credits can be generated. (période de comptabilisation)environmental integrity account means the account opened and maintained by the Minister in the tracking system to maintain the integrity of the offset credit system. (compte d’intégrité environnementale)hybrid tonne-year in relation to a quantification method, means the quantification method under which the determination of the quantity of GHGs removed from the atmosphere is based on the climate benefit from the reduced radiative forcing that results from withholding carbon from the atmosphere over the crediting period of the project, taking into account the obligation set out in subsection 22(2) that a proponent monitor the quantity of GHGs emitted and GHGs removed from the atmosphere with respect to a project for a given period. (hybride tonne-année)ISO Standard 14064-2 means the standard ISO 14064-2:2019 entitled Greenhouse gases – Part 2 – Specification with guidance at the project level for quantification, monitoring and reporting greenhouse gas emission reductions or removal enhancements, published by the International Organization for Standardization. (norme ISO 14064-2)ISO Standard 14064-3 means the standard ISO 14064-3:2019 entitled Greenhouse Gases – Part 3 – Specification with guidance for the verification and validation of greenhouse gas statements, published by the International Organization for Standardization. (norme ISO 14064-3)project means a project that prevents GHGs from being emitted or that removes GHGs from the atmosphere. (projet)proponent means the person responsible for a project. (promoteur)protocol means a protocol for a given project type that includes requirements for project implementation and methods for quantifying the GHGs emitted or removed from the atmosphere for that project type and that is included in the Compendium of Federal Offset Protocols. (protocole)reservoir has the same meaning as GHG reservoir in ISO Standard 14064-2. (réservoir)reversal means, with respect to a project, the release into the atmosphere of GHGs removed from the atmosphere by that project. (renversement)sink has the meaning assigned by the definition GHG sink in ISO Standard 14064-2. (puits)source has the meaning assigned by the definition GHG source in ISO Standard 14064-2. (source)start date means, with respect to a project, the date that activities undertaken as part of the project begin, as determined in accordance with the applicable protocol. (date de début)tonne-tonne in relation to a quantification method, means the quantification method under which the determination of the quantity of GHGs removed from the atmosphere is based on the number of tonnes of CO2 sequestered during the reporting period, taking into account the obligation set out in subsection 22(1), that the proponent must monitor the quantity of GHGs emitted and GHGs removed from the atmosphere with respect to the project for 100 years. (tonne-tonne)tonne-year in relation to a quantification method, means the quantification method under which the determination of the quantity of GHGs removed from the atmosphere is based on the climate benefit from the reduced radiative forcing that results from withholding carbon from the atmosphere over a reporting period and for which the proponent is not required to monitor the quantity of GHGs emitted and GHGs removed from the atmosphere with respect to the project. (tonne-année)verification body means a third party who is authorized under section 23 to conduct a verification. (organisme de vérification)Incorporation by referenceUnless otherwise indicated, a reference to any document incorporated by reference into these Regulations is incorporated as amended from time to time.AccreditationDespite subsection (2), if ISO Standard 14065:2020 entitled General principles and requirements for bodies validating and verifying environmental information, published by the International Organization for Standardization, is amended, the previous version of the document may be complied with for a period of four years after the day on which the amended version is published.Aggregation of projectsUnless otherwise specified, the provisions in these Regulations apply, with any modifications that the circumstances require, to aggregations of projects.
Purpose
PurposeThese Regulations establish an offset credit system for projects that reduce GHGs either by preventing GHGs from being emitted or by removing GHGs from the atmosphere and to which a protocol applies.
Overview
Elements of the SystemThese Regulations provide forthe conditions for registering a project in the offset credit system, as well as the circumstances under which a registration can be cancelled;the requirements for proponents;the issuance of offset credits; andthe requirements for keeping and retaining records.
Application
Project characteristicsThese Regulations apply to a proponent of a projectwhich is of a type for which a protocol has been included in the Compendium of Federal Offset Protocols;that aims to generate GHG reductions by preventing GHG emissions or removing GHGs from the atmosphere; andwith respect to which the reductions are real, additional, quantified, verified, unique and permanent.Reductions — additionalFor the purposes of paragraph (1)(c), reductions are additional if those reductionswould not have been generated in the absence of the project;were not required by law or the result of a legal requirement; andare not from sources, sinks and reservoirs that are subject to federal or provincial pricing mechanisms for GHG emissions.Reductions — uniqueFor the purposes of paragraph (1)(c), reductions are unique if those reductions are not credited under another offset program or another GHG reduction mechanism.Non-applicationThese Regulations do not apply to projects that have a start date before January 1, 2017.
Crediting Period
Crediting periodUnless otherwise provided in the applicable protocol, the period in respect of which a project can generate offset credits isin the case of a sequestration project related to forestry, 30 years;in the case of a sequestration project other than one related to forestry, 20 years; andin the case of any other project, 10 years.Beginning of periodSubject to subsection (5), the crediting period begins on the day on which the project is registered or on the project start date, whichever is later.Exception — beginning of periodDespite subsection (2), in the case of a project that is of an agricultural nature, if required in the protocol, the crediting period begins on the date of the start of the growing season. However, that date cannot be earlier than the day on which the project is registered or the project start date, whichever is later.Exception — length of periodIn the case of a project that was registered in a GHG offset credit system other than the one set out in these Regulations, the crediting period is decreased by subtracting the period that begins on the registration date in the other system and ends on the day on which the project is no longer registered in that other system.Aggregation of projectsSubject to subsection (6), the crediting period for an aggregation of projects, registered in accordance with subsection 9(1), begins on the day on which the aggregation is registered or on the earliest project start date of any of the projects in the aggregation at the time of registration, whichever is later. However, if one of the projects in the aggregation starts after that day, the project cannot generate credits until that project’s start date.Addition of projectsIf a project is added to an aggregation under subsection 9(4) or if a project that is part of an aggregation is transferred to another aggregation under subsection 9(5), its crediting period begins on the day on which it is added or transferred, as the case may be, or on its project start date, whichever is later, and ends on the day on which the crediting period for the aggregation ends.
Protocol
Registration of a projectWhen a project is registered, the protocol or, if several versions of a protocol are included in the Compendium of Federal Offset Protocols, the most recent version of the protocol, is the one that applies for the duration of the crediting period.Renewal of crediting periodIf, at the time of a renewal of a crediting period, several versions of a protocol are included in the Compendium of Federal Offset Protocols, the most recent version of the protocol is the one that applies to the project for the duration of the crediting period.Proponent’s choiceDespite subsections (1) and (2), if a new version of a protocol is issued during a project’s crediting period, a proponent may opt to have the new version apply to their project. However, only one version of a protocol may apply during the period covered by a project report.WithdrawalDespite subsections (1) and (2), if, at the time the application for registration of a project or the request for renewal of the crediting period is submitted, the protocol for the given project type is withdrawn, the application or request must be refused.
Process for Offset Credit IssuanceRequirements
General requirementsTo be issued offset credits by the Minister, the proponent of a project musthave registered the project in accordance with section 8 or 9;be the holder of a GHG Offset Credit System account in the tracking system;implement the project in accordance with the applicable protocol;generate GHG reductions that are real, additional, quantified, verified, unique and permanent;prepare a project report in accordance with section 20 and have it verified by a verification body in accordance with sections 24 to 27;submit to the Minister the project reports, in accordance with subsection 20(7), accompanied by a verification report prepared in accordance with section 28;if applicable, submit to the Minister a corrected project report in accordance with section 32;if applicable, meet the obligations with respect to implementing a reversal risk management plan in accordance with subsection 21(2) and monitor the project in accordance with section 22, specifically submitting monitoring reports; andif the proponent was required to remit compliance units under section 181 of the Act, have met that obligation.
Project Registration
Conditions of registrationSubject to section 9, a project, of a type for which a protocol has been included in the Compendium of Federal Offset Protocols, may be registered in the offset credit system if its proponent submits an application for registration to the Minister that includes the information set out in Schedule 1 and the following conditions are met:the proponent is an individual who resides in Canada or, if the proponent is not an individual, the proponent has a place of business in Canada;the proponent has exclusive entitlement to claim the credits issued for the GHG reductions generated by the project;the proponent has the necessary authorizations to carry out the project activities;prior to the project start date, the baseline conditions set out in the protocol to be eligible under that protocol are met;the activities undertaken as part of the project to prevent GHGs from being emitted or to remove GHGs from the atmosphere are set out in the applicable protocol;the reductions that the project could generate would be additional;the project is not registered in any other offset credit system;no credits will be attributed under another GHG reduction mechanism for the GHG reductions generated by the project;no provincial offset credit protocol in the province in which the project is situated, established under an offset credit program for that province, covers the same activities as those set out in the applicable federal protocol;with respect to a sequestration project,the proponent has specified whether the tonne-tonne, tonne-year or hybrid tonne-year quantification method, as set out in the protocol, will be used for the duration of the project, andin the case of a proponent opting for the tonne-tonne or hybrid tonne-year quantification method, the proponent has established a reversal risk management plan in accordance with section 21;a previous registration by the proponent of the project under these Regulations has not been cancelled as a result of a voluntary reversal;neither the proponent nor their authorized official has been found guilty of an offence under section 380 of the Criminal Code, within five years prior to submitting the application for registration; andthe application for registration is submitted within the time limits set out in section 10.Exception — provincial protocolDespite paragraph (1)(i), in the case where a provincial offset credit protocol, established under an offset credit program for that province, applies to the activities undertaken as part of a project, the project may be registered if:the provincial protocol is published after the federal protocol is included in the Compendium of Federal Offset Protocols; andthe application for registration is submitted no more than six months after the day on which the project could have been registered in the provincial offset credit program under that protocol.DeclarationThe application for registration must be accompanied by a declaration, dated and signed by the proponent or their authorized official, stating that the information contained in the application is accurate and complete.Project in more than one provinceIf a project is situated in more than one province, the proponent must register, as distinct projects, the portions of the project situated in each province.Request to open accountThe proponent, in accordance with subsection 186(1) of the Act, must submit a request to open a GHG Offset Credit System account in the tracking system if they do not already have such an account.
Aggregation of projectsA proponent may register an aggregation of projects, made up of a group of projects of a type for which a protocol has been included in the Compendium of Federal Offset Protocols and that have not previously been registered under these Regulations or a group of projects that are already registered as part of an aggregation under these Regulations, if the following conditions are met:the proponent is the proponent for each of the projects in the aggregation;all of the projects in the aggregation are situated in the same province;each project in the aggregation meets the conditions of registration set out in subsection 8(1);the same protocol, and version of that protocol, applies to each project in the aggregation;with respect to sequestration projects, if the protocol provides for a choice between the tonne-tonne, hybrid tonne-year or tonne-year quantification method, the same method is used for all projects in the aggregation;an application for registration of the aggregation was submitted in accordance with subsection (2); andthe number of projects in the aggregation does not exceed the maximum number of projects for the given project type set out in the protocol.Registration applicationThe application for registration of an aggregation of projects must be submitted to the Minister and include the information referred to in Schedule 2.DeclarationThe application for registration must be accompanied by a declaration, dated and signed by the proponent or their authorized official, stating that the information contained in the application is accurate and complete.Addition of a projectA proponent may add a project, that has not previously been registered under these Regulations, to an aggregation of projects if the conditions set out in paragraphs (1)(a) to (e) and (g) are met and if they submit an application to the Minister, including the declaration referred to in subsection (3), containing the information referred to in subsection (2) for the project, with the information specified in paragraphs 4(c) and (d) of Schedule 2 updated to account for the addition of the new project.Transfer of a projectA project in an aggregation may only be transferred to another aggregation if the date on which the project’s crediting period began is on or after the date on which the crediting period of the aggregation to which the project is being added began.Withdrawal of a projectIf a project is withdrawn from an aggregation of projects, the proponent must notify the Minister in writing and specify the date the project was withdrawn from the aggregation.
Application deadlineThe application for registration must be submittedif the project start date is before the date the applicable protocol is included in the Compendium of Federal Offset Protocols, within 18 months after the date the protocol is included in the Compendium of Federal Offset Protocols and no more than 10 years after the project start date; andif the project start date is on or after the date on which the applicable protocol is included in the Compendium of Federal Offset Protocols, within 18 months after the project start date.Exception — project registered in another systemDespite paragraph (1)(a), if the project is registered in a GHG offset credit system, other than a system administered by the federal or a provincial government, at the time the applicable protocol is included in the Compendium of Federal Offset Protocols, the application may be submitted more than 18 months after the protocol is included in the Compendium of Federal Offset Protocols but no later than 10 years after the project start date.
Registration by the MinisterSubject to subsection 6(4), if a proponent meets the conditions set out in section 8 or 9, the Minister must register the project or the aggregation of projects, open the GHG Offset Credit System account in the tracking system, if applicable, and notify the proponent.
Change to boundariesThe proponent may only modify the coordinates and geographic boundaries of the site where activities are undertaken as part of the project that were provided in the application for registrationwith respect to a project registered in accordance with section 8, until the end of the period covered by the initial report; andwith respect to a project in an aggregation, registered in accordance with section 9, until the end of the first 12 months following the registration of the project as part of an aggregation.
GHG Offset Credit System Account
Maintaining accountA proponent must maintain their GHG Offset Credit System account until the later ofat least 100 years after the end date of the last crediting period of all sequestration projects related to that account if the tonne-tonne quantification method was used for any of those projects; andat least eight years after the end date of the last crediting period of all projects related to that account if the tonne-tonne quantification method was not used for any of the projects.Closing of accountThe Minister may, under subsection 186(3) of the Act, close a GHG Offset Credit System account that has been inactive for more than seven years if the Minister notifies the holder of the account of the Minister’s intention to do so and the holder does not request that the account remain open within 60 days after the date the notice was received.Revocation of creditsIf the GHG Offset Credit System account contains offset credits, those credits are revoked prior to the account being closed under subsection (2).
Cancellation
CancellationThe Minister may cancel the registration of a project ifthe proponent requests that the registration be cancelled;the proponent fails to comply with paragraph 20(7)(a), (b) or (c), as the case may be;the proponent’s GHG Offset Credit System account has been closed under subsection 13(2);the conditions of registration set out in paragraphs 8(1)(a) to (h), (j) or (l) are no longer met;in the case of a sequestration project, other than a sequestration project for which a tonne-year quantification method is used, the cause of the reversal was within the control of the proponent or there was a failure to implement the reversal risk management plan, as determined in accordance with subsection 40(1);in the case of a sequestration project, other than a sequestration project for which a tonne-year quantification method is used, a reversal diminishes, in accordance with the protocol, the inventory of sequestered CO2e to a level below the inventory in the baseline scenario; orthe proponent fails to comply with subsection 181(2) or (3) of the Act.NoticeThe Minister must provide notice of the Minister’s intention to cancel the registration under subsection (1) to the proponent at least 30 days before cancelling that registration, to provide time for the proponent to provide representations.DecisionThe Minister must, after the period set out in subsection (2), confirm or revise his decision and notify the proponent.
Consequences for sequestration projectIf the registration of a sequestration project using either the tonne-tonne or the hybrid tonne-year quantification method is cancelled, the Minister mayfor the purposes of section 180 of the Act, revoke any offset credits in the proponent’s GHG Offset Credit System account for the project and the number of offset credits deposited into the environmental integrity account in respect of the project; andwhere the number of offset credits revoked from the proponent’s GHG Offset Credit System account for the project under paragraph (a) is less than the number of offset credits issued to the proponent in respect of the project,for the purposes of subsection 181(1) of the Act, require the proponent to remit compliance units by giving them notice indicating the number of compliance units to be remitted and the deadline by which the remittance is to be made, andif the proponent does not remit compliance units in accordance with subparagraph (i) or make a payment in lieu of remitting compliance units under subsection 181(3) of the Act, revoke, for the purposes of section 180 of the Act, offset credits in the environmental integrity account to make up the difference.Manner of remittanceSubject to subsection (3), the compliance units remitted to the Minister for the purposes of subparagraph (1)(b)(i), in accordance with subsection 181(2) of the Act, mustin the case of offset credits or units or credits recognized as compliance units under a regulation made under the Act, have been issued for GHG reductions that occurred within eight calendar years before the deadline indicated in the notice provided under that subparagraph; andin the case of surplus credits, have been issued within five calendar years before the deadline indicated in the notice provided under that subparagraph.Surplus creditsIf a proponent is required to remit compliance units, the proponent may remit surplus credits if those surplus credits were issued to a covered facility located in a province listed in Part 2 of Schedule 1 to the Act during the calendar year in which the Minister notified the proponent under subparagraph (1)(b)(i) of the number of compliance units to be remitted.
Renewal of Crediting Period
Manner of renewalA proponent may request that the Minister renew the crediting period in respect of a project or an aggregation of projects by submitting an application to renew at least nine months but no more than 18 months before the end of the crediting period.Information to submitThe application must include the information referred to in paragraphs 2(d), (f) to (k) and (n) to (s) of Schedule 1 or paragraphs 3(e) to (j) and (m) to (r) and 4(a) of Schedule 2, as the case may be, and any other change to the information referred to in those Schedules since the registration application or the last renewal request, including a description of any measures and monitoring activities implemented following changes to the reversal risk management plan.Conditions of renewalSubject to subsection 6(4), the Minister must renew the crediting period if the conditions of registration set out in section 8 or 9 are met at the time of the renewal. The Minister must notify the proponent of his decision, including his reasons for that decision, in that regard at least three months before the end of the crediting period.Most recent version of protocolThe most recent version of the protocol applies to the renewal for the purposes of subsections (2) and (3).Beginning of new crediting periodThe new crediting period begins on the day after the day on which the most recent crediting period ended.Limit on renewalsThe crediting period can be renewed forin the case of a sequestration project related to forestry, a total of no more than 100 years including all renewals; andin the case of all other projects, no more than two times.
General Requirements
Information management systemA proponent must implement a data and information management system to collect, manage and store data and information related to their project in a way that ensures the integrity, completeness, accuracy and validity of the data and information.
Measuring devicesA proponent must ensure that any measuring device used to determine a quantity that is related to the preparation of a project report isinstalled, operated, maintained and calibrated in accordance with the manufacturer’s specifications or the applicable protocol; andmaintained to be accurate within ± 5%.
QuantificationA proponent must quantify the GHGs emitted and the GHGs removed from the atmosphere for the sources, sinks and reservoirs that must be taken into account for the baseline scenario and the project scenario, in accordance with the applicable protocol. For the purposes of the quantification, the applicable global warming potentials set out in Schedule 3 to the Act and the applicable emission factors and reference values set out in the document Emission Factors and Reference Values, published in 2022 by the Department of the Environment, are to be used.ExclusionDespite subsection (1), GHGs emitted or removed from the atmosphere are not included in the quantification if the GHGs were from sources, sinks and reservoirs that were subject to provincial or federal pricing mechanisms or the emissions or removals from sources, sinks and reservoirs that were required by law or the result of a legal requirement unless, with respect to a source, the quantity of GHGs emitted increased due to the project.
Project Report
Content — sequestration projectSubject to subsection (3) and (5), a project report submitted by a proponent for a sequestration project must include, the information listed in Schedule 3 as well as the GHG reductions generated by the project — the quantity of tonnes of GHGs that the project prevented from being emitted or that it removed from the atmosphere — expressed in CO2e tonnes, for each calendar year covered by the report, determined by the following formula:(Ai − Bi) CiwhereAiis the aggregate of all of the GHGs emitted and the GHGs removed from the atmosphere from the sources, sinks and reservoirs included in the project scenario, quantified in accordance with the protocol, for the calendar year “i”, as set out in the report under paragraph 2(i) of Schedule 3,Biis the aggregate of all of the GHGs emitted and the GHGs removed from the atmosphere from the sources, sinks and reservoirs included in the baseline scenario, quantified in accordance with the protocol, for the calendar year “i”, as set out in the report under paragraph 2(h) of Schedule 3,Ciis the value that corresponds to the leakage discount factor, as set out in the report under paragraph 2(g) of Schedule 3, if the protocol requires that the value be applied to the difference between the amount determined for A and the amount determined for B for calendar year “i”, andiis the ith calendar year, where “i” goes from 1 to n and where n is the number of calendar years covered by the report.Content — Non-sequestration projectSubject to subsection (3), the project report submitted, for a project other than a sequestration project, by the proponent for the period covered by the report must include the information listed in Schedule 3 and the GHG reductions generated by the project, expressed in CO2e tonnes, for each calendar year covered by the report, determined by the following formula(Bi − Ai) CiwhereBiis the aggregate of all of the GHGs emitted and the GHGs removed from the atmosphere from the sources, sinks and reservoirs included in the protocol for the baseline scenario, quantified in accordance with the protocol, for calendar year “i”, as set out in the report pursuant paragraph 2(h) of Schedule 3,Aiis the aggregate of all of the GHG emitted and the GHGs removed from the atmosphere from the sources, sinks and reservoirs included in the protocol for the project scenario, quantified in accordance with the protocol, for calendar year “i”, as set out in the report pursuant paragraph 2(i) of Schedule 3,Ciis the value that corresponds to the leakage discount factor, as set out in the report pursuant to paragraph 2(g) of Schedule 3, if the protocol requires that the value be applied to the difference between variable A and variable B for calendar year “i”, andiis the ith calendar year, where “i” goes from 1 to n and where n is the number of calendar years covered by the report.Aggregation of projectsWith respect to an aggregation of projects, a project report submitted by a proponent must include, the information listed in Schedule 4 and the following information:subject to subsection (5), for an aggregation of sequestration projects, the GHG reductions generated by each project within the aggregation expressed in CO2e tonnes, for each calendar year covered by the report, determined by the following formula:(Ai − Bi) CiwhereAiis the aggregate of all of the GHGs emitted and the GHGs removed from the atmosphere from the sources, sinks and reservoirs included in the protocol for the project scenario, quantified in accordance with the protocol, for calendar year “i”, as set out in the report under paragraph 3(g) of Schedule 4,Biis the aggregate of all of the GHGs emitted and the GHGs removed from the atmosphere from the sources, sinks and reservoirs included in the protocol for the baseline scenario, quantified in accordance with the protocol, for calendar year “i”, as set out in the report under paragraph 3(f) of Schedule 4,Ciis the value that corresponds to the leakage discount factor, as set out in the report under to paragraph 3(e) of Schedule 4, if the protocol requires that the value be applied to the difference between A and B for calendar year “i”, andiis the ith calendar year, where “i” goes from 1 to n and where n is the number of calendar years covered by the report; andfor an aggregation of projects, other than an aggregation of sequestration projects, the GHG reductions generated by each project within the aggregation — the quantity of tonnes of GHG prevented from being emitted or removed from the atmosphere — expressed in CO2e tonnes, for each calendar year covered by the report, determined by the following formula(Bi − Ai) CiwhereBiis the aggregate of all of the GHGs emitted and the GHGs removed from the atmosphere from the sources, sinks and reservoirs included in the protocol for the baseline scenario, quantified in accordance with the protocol, for calendar year “i”, as set out in the report under paragraph 3(f) of Schedule 4,Aiis the aggregate of all of the GHGs emitted and the GHGs removed from the atmosphere from the sources, sinks and reservoirs included in the protocol for the project scenario, quantified in accordance with the protocol, for calendar year “i”, as set out in the report under paragraph 3(g) of Schedule 4,Ciis the value that corresponds to the leakage discount factor, as set out in the report under paragraph 3(e) of Schedule 4, if the protocol requires that the value be applied to the difference between variable A and B for calendar year “i”, andiis the ith calendar year, where “i” goes from 1 to n and where n is the number of calendar years covered by the report; andwith respect to the aggregation of projects, the sum of the reductions specified in paragraph (a) or (b) for all of the projects in the aggregation by calendar year, as the case may be.Emissions preceding registrationFor the purposes of subsections (1) to (3), if a project’s start date is before the day it is registered under these Regulations, the GHGs emitted from any source included in the applicable protocol for the project scenario, during the period beginning on the project start date and ending on the day before the day the project is registered, must be included, in accordance with the protocol, in the quantity determined for A.Net increase in emissionsIf in the initial project report submitted by the proponent for a sequestration project or an aggregation of sequestration projects, the difference between the quantity determined for A and the quantity determined for B in subsection (1) or paragraph (3)(a) indicates a net increase in GHG emissions that is not caused by a reversal, that increase must be carried forward to the next period covered by a project report in order to be subtracted in accordance with subsection 29(2), from the total reported quantity of GHG reductions generated by the project for the first calendar year covered by the report, and, if the result of the subtraction indicates a net increase in GHG emissions, the same for the subsequent calendar years covered by the report.DeclarationThe project report must be accompanied by a declaration, dated and signed by the proponent or their authorized official, stating that the information contained in the report is accurate and complete.Report submissionThe project reports, accompanied by verification reports, that must be submitted by the proponent are the following:an initial report with respect to the 12 months following the start of the first crediting period, within 6 months after those 12 months;subsequent reports within 6 months followingfor sequestration projects, a maximum of 6 years after the end the period covered in the last project report, andfor all other projects, no later than 3 years after the day on which the period covered by the last project report ended; anda final report, within 6 months of the end of the last crediting period.Extension of submission deadlineDespite paragraphs 7(f) and (7)(b), if a reversal occurs within 18 months of the deadline by which a project report must be submitted, the deadline is extended by 6 months after the date the reversal report is submitted.Choice with respect to verificationDespite subsection (7) and paragraphs 7(e) and (f), a proponent of a project other than a sequestration project may choose not to have a project report, other than an initial project report, verified if they opt not to have offset credits issued to them for the reporting period covered by the report.No discontinuityThere can be no discontinuity between the periods covered by the project reports submitted by the proponent.Correction of errors or omissionsIf a verifier identifies errors or omissions in a project report during their verification, the proponent must correct those errors or omissions, if possible, and identify those corrections in the project report.
Reversal Risk Management Plan
Establishment of planThe proponent of a sequestration project for which the tonne-tonne or hybrid tonne-year quantification method is used must establish, in accordance with the protocol, a reversal risk management plan that identifies and assesses reversal risks associated with the project and describes any measures and monitoring activities to mitigate those risks.Implementation of planThe proponent of a sequestration project referred to in subsection (1) must implement the reversal risk management plan for the duration of the project’s crediting period and, in the case of a sequestration project for which the tonne-tonne quantification method is used, continue to implement that plan for a period of 100 years following the end of the crediting period.Updating the planA proponent may update their reversal risk management plan but must not cease implementing existing reversal risk mitigation measures. The proponent may only add new reversal risk mitigation measures or increase the stringency of existing measures.
Monitoring
Tonne-tonne quantification methodThe proponent of a sequestration project for which a tonne-tonne quantification method is used must, in accordance with the protocol, monitor the quantity of GHGs emitted or GHGs removed from the atmosphere with respect to the project and submit to the Minister a monitoring report, accompanied by a verification report, with each project report submitted during the crediting period and every 6 years for 100 years after the end of the last crediting period for that project.Hybrid tonne-year quantification methodThe proponent of a sequestration project for which a hybrid tonne-year quantification method is used must, in accordance with the protocol, monitor the quantity of GHGs emitted or GHGs removed from the atmosphere with respect to the project and submit to the Minister a monitoring report, accompanied by a verification report, with each project report submitted during the project’s crediting period.Content of monitoring reportThe monitoring report must includethe project registration number;a description of any reversal risk mitigation measures and monitoring activities that were implemented;a declaration by the proponent that, during the period covered by the report, the reversal risk management plan was implemented and that no reversal occurred; anda declaration, dated and signed by the proponent or their authorized official, stating that the information contained in the report is accurate and complete.
Verification
Verification bodyTo be authorized to conduct a verification for the purposes of these Regulations, a third party mustmeet the following accreditation requirements:it is accredited as a verification body, under ISO Standard 14065:2020 entitled General principles and requirements for bodies validating and verifying environmental information, by the Standards Council of Canada, the ANSI National Accreditation Board or any other accreditation organization that has a memorandum of understanding with the Department of Environment and that is a member of the International Accreditation Forum,it has a scope of accreditation that includes technical activities at the project level with respect to GHG project verifications, andit is not suspended by an accreditation organization that issued its accreditation; anduse a verification team that have the necessary competencies to verify a project report, corrected project report, reversal report or monitoring report, including at least one individual with training relevant to the project type, as specified in the applicable protocol.
Verification standardA verification body must conduct verifications in accordance with ISO Standard 14064-3 by applying methods that allow it to make a determination to a reasonable level of assurance, as defined in that Standard as to whether, in its opinion,with respect to a project report or corrected project reportthe quantity of GHG reductions reported in the report was calculated in accordance with these Regulations,the report was prepared in accordance with these Regulations,the project was implemented in accordance with the applicable protocol,the conditions of registration for the project, set out in section 8 or 9, are still being met at the time of the preparation of the verification report,the proponent meets the requirements for the issuance of offset credits, set out in section 7, at the time of the preparation of the verification report, andno material discrepancy, referred to in subsection (2) or (3), as the case may be, exists with respect to the quantity of GHG reductions reported in the report;with respect to a reversal reportreversal risk mitigation measures and monitoring activities were implemented in accordance with the reversal risk management plan prior to the reversal,the report was prepared in accordance with these Regulations, andthe errors or omissions identified during the verification and referred to in paragraph 3(b) of Schedule 5 do not constitute a material discrepancy, referred to in subsection (4); andwith respect to a monitoring reportthe report was prepared in accordance with these Regulations,the reversal risk mitigation measures and monitoring activities were implemented in accordance with the reversal risk management plan, andthe reversal risk mitigation measures and monitoring activities that were implemented were those set out in the report.Material discrepancy — project report or corrected project reportFor the purpose of the verification of the project report or corrected project report, a material discrepancy exists ifwith respect to the quantity of GHG reductions referred to in subsection 20(1) or (2) that are reported in the project report or corrected project report for any calendar year covered by the report and that are less than 100,000 tonnes of CO2e,in the case of each error or omission in the project report or corrected project report, that is identified during the verification and that may be quantified, the amount, expressed as a percent, determined by the following formula, is equal to or greater than 5%:A ÷ B × 100whereAis the absolute value of the overstatement or understatement resulting from the error or omission for the calendar year, expressed in CO2e tonnes, andBis the quantity of GHG reductions, determined in accordance with subsection 20(1) or (2), as the case may be, that are reported in the project report or corrected project report for the calendar year, expressed in CO2e tonnes, andin the case of the aggregate of all errors and omissions in the project report or corrected project report, that are identified during the verification and that may be quantified, the amount, expressed as a percent, determined by the following formula, is equal to or greater than 5%:A ÷ B × 100whereAis the sum of the absolute value of all overstatements and understatements resulting from the errors and omissions, for the calendar year, expressed in CO2e tonnes, andBis the GHG reductions determined in accordance with subsection 20(1) or (2), as the case may be, with respect to a calendar year stated in the project report or corrected project report, expressed in CO2e tonnes; andwith respect to quantity of GHG reductions referred to in subsection 20(1) or (2) that are reported in the project report or corrected project report for any calendar year covered by the report and that are equal to or greater than 100,000 tonnes of CO2e,in the case of each error or omission in the project report or corrected project report, that is identified during the verification and that may be quantified, the result, expressed as a percent, determined by the following formula, is equal to or greater than 2%:A ÷ B × 100whereAis the absolute value of the overstatement or understatement resulting from the error or omission for the calendar year, expresssed in CO2e tonnes, andBis the quantity of GHG reductions, determined in accordance with subsection 20(1) or (2), as the case may be, that are reported in the project report or corrected project report for the calendar year, expressed in CO2e tonnes, andin the case of the aggregate of all errors and omissions in the project report or corrected project report, that are identified during the verification and that may be quantified, the result, expressed as a percent, determined by the following formula, is equal to or greater than 2%:A ÷ B × 100whereAis the sum of the absolute value of all overstatements and understatements resulting from the errors and omissions, for the calendar year, expressed in CO2e tonnes, andBis the GHG reductions determined in accordance with subsection 20(1) or (2), as the case may be, for the calendar year stated in the project report or corrected project report, expressed in CO2e tonnes.Material discrepancy — aggregationIn the case of an aggregation of projects, to determine if the errors and omissions for the aggregation constitute a material discrepancy in accordance with subsection (2), the quantity of GHG reductions referred to in paragraphs (2)(a) or (b) corresponds to the sum referred in paragraph 20(3)(c) reported in the project report submitted for the aggregation.Material discrepancy — reversal reportFor the purposes of these Regulations, the errors or omissions in a reversal report constitute a material discrepancy ifin the case where the quantity of GHGs released into the atmosphere during the reversal reported in the reversal report is less than 100,000 tonnes of CO2e, the result determined in accordance with the formula set out in paragraph (2)(a) — but by replacing the quantity of GHG reductions specified in the description of B in that paragraph with the quantity of GHGs released into the atmosphere during the reversal reported in the reversal report — is equal to or greater than 5%; andin the case where the quantity of GHGs released into the atmosphere during the reversal reported in the reversal report is equal to or greater than 100,000 tonnes of CO2e, the result determined in accordance with the formula set out in paragraph (2)(b) — but by replacing the quantity of reductions referred to in the description of B in that paragraph with the quantity of GHGs released into the atmosphere during the reversal reported to in the reversal report — is equal to or greater than 2%.
Conflict of interestThe proponent must ensure that no real or potential conflict of interest exists between any party involved in the project and the verification body, including members of the verification team and any individual or corporate entity associated with the verification body, that threatens to or compromises the verification body’s impartiality and that cannot be effectively managed.
Limits — verification bodyA proponent must not have their project report verified by a verification body ifin the case of a sequestration project, the verification body has verified the project reports with respect to the last 12 consecutive calendar years, unless three calendar years have elapsed since the last of those reports was verified; andin the case of any other project, the verification body has verified the project reports with respect to the last for five calendar years, unless two calendar years have elapsed since the last of those reports was verified.Exception — corrected project reportDespite subsection (1), a proponent may have a corrected project report verified by the same verification body that verified the project report being corrected.
Site visitWith respect to a project that is not in an aggregation, the proponent of a project must ensure that the project site is visited by a verification body in the following situations:it is the initial verification of the project for the purposes of these Regulations or it is the initial verification by the verification body;if the quantity of GHG reductions referred to in subsection 20(1) or (2) that is reported in the project report being verified is less than 10,000 tonnes of CO2e for any calendar year covered by the report, it has been at least 24 months since the project site was visited by a verification body;if the quantity of GHG reductions referred to in subsection 20(1) or (2) that is reported in the project report being verified is equal to or greater than 10,000 tonnes of CO2e for any calendar year covered by the report, it has been at least 12 months since the project site was visited by a verification body;in accordance with ISO Standard 14064-3, issued a modified or adverse opinion with respect to the quantity of GHG reductions reported in the previous project report;the verification body is conducting a verification of a reversal report; orthe verification body is of the opinion that a site visit is required.AggregationWith respect to a project in an aggregation, the proponent of an aggregation of projects must ensure that the site of a project in the aggregation is visited by a verification body for the purposes of verifying a project report in any of the following situations:the quantity of GHG reductions referred to in subsection 20(3) that is reported in the project report being verified is equal to or greater than 10,000 tonnes of CO2e for any calendar year covered by the report and it has been at least 12 months since the project site was visited by a verification body;the final project report for the aggregation following the end of the crediting period is being submitted, and the project site has not been visited by a verification body during the crediting period;the verification body, in accordance with ISO Standard 14064-3, issued a modified or adverse opinion with respect to the quantity of GHG reductions reported in the previous project report;the verification body is conducting a verification of a reversal report; andthe verification body is of the opinion that a site visit is required.Monitoring reportThe proponent must ensure that the site of a sequestration project for which the tonne-tonne quantification method is used is visited by a verification body as part of the verification of any monitoring report submitted after the end of the last crediting period.Other visitsIf buildings that are used for legal, administrative or management purposes are not located where project activities are carried out and data or information necessary for verifying a report submitted under these Regulations is kept in those buildings, the proponent must ensure that the verification body visits those buildings.
Content of verification reportA verification report must be prepared by a verification body and contain the information set out in Schedule 5.
Issuance of Offset Credits
Criteria for issuance of offset creditsThe Minister must issue offset credits to a proponent for the period covered by a project report, in the amount determined in accordance with subsection (2), if the requirements of section 7 are met andthe project report and any corrected project report is free of material discrepancies;the quantity of GHG reductions referred to in any of subsections 20(1) to (3) reported in the report were quantified in accordance with these Regulations; andthe GHG reductions for which the credits are issued were generated during the period covered by the report.Calculation of offset creditsThe number of offset credits that the Minister must issue in respect of a project for each calendar year covered by the report is determined by the following formula:Ai – Bi – Ci – DiwhereAiis the total reported quantity of GHG reductions determined in accordance with subsection 20(1) or (2) or paragraph 20(3)(a) or (b), as the case may be, for calendar year “i”, expressed in CO2e tonnes;Biis the product of the description of A and percentage of credits the proponent agrees to forgo, for calendar year “i”, with respect to the project, pertaining to direct financial incentives in accordance with an agreement;Ciis for calendar year “i”, equal to the product of the result of the following formula and either, for a sequestration project for which the tonne-tonne or hybrid tonne-year quantification method is used, the sum of 3% and the percentage set out in the protocol that corresponds to the reversal risk mitigation measures and monitoring activities implemented for the project for that calendar year, or, for any other project, 3%:Ai – (Bi + Di)Diis the net increase in GHGs that was carried forward in accordance with subsection 20(5) for calendar year “i”; andiis the ith calendar year, where “i” goes from 1 to n and where n is the number of calendar years covered by the report.RoundingFor the purposes of subsection (2), any result calculated under that subsection is to be rounded to the nearest whole number and, if the number is equidistant between two whole consecutive numbers, to the higher number.
NotificationThe Minister must notify the proponent of the number of offset credits being issued for each calendar year in the period covered by the report.
Environmental integrity accountThe Minister must deposit, for a given calendar year, the number of offset credits equal to the amount determined for C in subsection 29(2) into the environmental integrity account for that calendar year.RestrictionOffset credits in the environmental integrity account may not be sold or transferred. The credits may only be revoked in accordance with these Regulations.
Errors and Omissions
Errors or omissions — identified by proponentIf, within eight years after submitting a project report, a proponent becomes aware of an error or omission in the report, the proponent must notify the Minister in writing as soon as feasible.Notice from proponentThe notice must includethe project registration number or, in the case of an aggregation of projects, the registration number of the aggregation along with the project registration number for the projects in which an error or omission occurred;a statement indicating whether the error or omission had an impact on the quantity of GHG reductions reported in the project report; anda statement indicating whether the error or omission led to an over-issuance or under-issuance of offset credits.Corrected project reportThe proponent must submit to the Ministera corrected project report within 60 days after the day on which the notice is submitted, if the notice indicates that the error or omission does not impact the quantity of GHG reductions provided in the project report; anda corrected project report along with a verification report, prepared in accordance with section 28, within 90 days after the day on which the notice is submitted, if the notice indicates that the error or omission impacts the quantity of GHG reductions provided in the project report.Contents of corrected reportThe corrected project report must include the information referred to in subsection 20(1), (2) or (3) with respect to the period covered by the report and, under a heading, the following information:the information provided in the original project report that required correction along with a description of the corrections made;a description of the circumstances that led to the error or omission and why the error or omission was not previously detected;a description of the measures that have been and will be implemented to avoid future errors or omissions of the same type;if applicable, the difference between the number of offset credits that were calculated in accordance with section 29 and the number of offset credits that is calculated based on the corrected project report; anda statement indicating whether the aggregate of the errors and omissions constitute a material discrepancy.DeclarationThe corrected project report must be accompanied by a declaration, dated and signed by the proponent or their authorized official, stating that the information contained in the report is accurate and complete.
Errors or omissions — identified by MinisterIf, within eight years after a project report has been submitted under these Regulations, the Minister is of the opinion that there is an error or omission that requires a corrected report to be submitted, the Minister must require the proponent to submitif the error or omission did not have an impact on the quantity of GHG reductions reported in the project report, a corrected project report within 60 days after the day on which the Minister required it; andif the error or omission had an impact on the quantity of GHG reductions reported in the project report, a corrected project report, accompanied by a verification report prepared in accordance with section 28, within 90 days after the day on which the Minister required it.
Under-issuanceIf a corrected project report indicates that an under-issuance of offset credits was issued for a calendar year, the Minister must issue to the proponent the number of offset credits for that calendar year that is equal to the difference referred to in paragraph 32(4)(d) for that calendar year and deposit a corresponding number of credits into the environmental integrity account.
Over-issuanceIf a corrected project report indicates that there was an over-issuance of offset credits, the proponent must remit to the Minister, with the corrected report, the number of offset credits that is equal to the difference referred to in paragraph 32(4)(d).Manner of compensationIf the proponent does not remit the number of offset credits required under subsection (1), the Minister mayfor the purposes of section 180 of the Act, revoke a number of offset credits and that are in the proponent’s GHG Offset Credit System account, issued with respect to the project, equal to the number of offset credits necessary to make up the difference; andif the number of offset credits remitted by the proponent under subsection (1) or revoked under paragraph (a) is less than the number of offset credits necessary to make up the difference,for the purposes of subsection 181(1) of the Act, require the proponent to remit compliance units by notifying the them of the number of compliance units to be remitted and the deadline by which the remittance is to be made, andwhere the proponent does not remit compliance units in accordance with subparagraph (i) or make a payment in lieu of remitting compliance units thereof under subsection 181(3) of the Act, revoke, for the purposes of section 180 of the Act, offset credits in the environmental integrity account to make up the difference.Environmental integrity accountThe Minister may, for the purposes of section 180 of the Act, revoke a number of offset credits in the environmental integrity account that is equal to the number of offset credits deposited into that account as a result of the error or omission.Manner of remittanceSubject to subsection (5), the compliance units remitted to the Minister for the purposes of subparagraph (2)(b)(i), in accordance with subsection 181(2) of the Act, mustin the case of offset credits or units or credits recognized as compliance units under a regulation made under the Act, have been issued for GHG reductions that occurred within the eight calendar years before the deadline indicated in the notice provided under that subparagraph; andin the case of surplus credits, have been issued within five calendar years before the deadline indicated in the notice provided under that subparagraph.Surplus creditsIf a proponent is required to remit compliance units, the proponent may remit surplus credits if those surplus credits were issued to a covered facility located in a province listed in Part 2 of Schedule 1 to the Act in the calendar year during which the Minister notified the proponent under subparagraph (2)(b)(i) of the requirement to remit compliance units.
Suspension — error or omissionFor the purposes of subsection 180(1) of the Act, if the Minister is of the opinion, based on a notice referred to in subsection 32(2) or in accordance with section 33, that an error or omission resulted in the over-issuance of offset credits, the Minister may suspend offset credits for the applicable project in the proponent’s GHG Offset Credit System account.Notice of suspensionThe Minister must, without delay, notify the proponent of the suspension of the credits, the reasons for the suspension and the date on which it takes effect.Lifting of suspensionThe Minister must lift the suspension if the number of compliance units remitted or revoked, or payments made under section 35, compensate for the amount of the over-issuance.
Reversals
Proponent’s notice of reversalIf a proponent of a sequestration project — other than a sequestration project for which the tonne-year quantification method is used — becomes aware of a reversal, they must, without delay, notify the Minister in writing, and include the following information with the notice:the project registration number, or in the case of an aggregation of projects, the registration number of the aggregation along with the project registration numbers for the projects in respect of which a reversal occurred;the date on which the reversal started, the date on which the GHGs stopped being released, if applicable, and a description of the circumstances and causes of the reversal; andthe steps taken to contain the reversal or prevent the release of additional GHGs.Reversal reportThe proponent must, within 18 months after the date of the notice, submit to the Minister a reversal report, together with a verification report, that includes the following information:the registration number of the project;the title of the applicable protocol and, if more than one version of the protocol is included in the Compendium of Federal Offset Protocols, the date of the applicable version;the circumstances and causes of the reversal;the location within the geographic boundaries of the project where the reversal occurred;the date on which the reversal started and, if applicable, the date on which the GHGs stopped being released;the list of reversal risk mitigation measures and monitoring activities implemented since the last monitoring report but prior to the reversal, along with the date of their implementation;the quantity of GHGs released into the atmosphere during the reversal up to the date the report is prepared, determined in accordance with the protocol, expressed in CO2e tonnes; andthe data, values and calculations used to quantify the GHGs released into the atmosphere, that are specified in paragraph (g).Aggregation of projectsFor the purposes of an aggregation of projects, the reversal report referred to in subsection (2) must contain the following information:the registration number of the aggregation of projects along with the project registration numbers for the projects in respect of which a reversal occurred;the title of the applicable protocol and, if more than one version of the protocol is included in the Compendium of Federal Offset Protocols, the date of the applicable version; andthe information referred to in paragraphs (2)(c) to (h) for the projects within the aggregation in respect of which a reversal occurred.DeclarationThe reversal report must be accompanied by a declaration, dated and signed by the proponent or their authorized official, stating that the information contained in the report is accurate and complete.
Suspension of offset creditsIf, for the purposes of subsection 180(1) of the Act, the Minister suspends offset credits in the proponent’s GHG Offset Credit System account — either because the Minister has received notice from a proponent that a reversal has occurred or because he or she has reasonable grounds to suspect that a reversal has occurred —, the Minister must notify the proponent of the suspension and its effective date.
Information to the MinisterIf the Minister suspends offset credits in the proponent’s GHG Offset Credit System account because the Minister has reasonable grounds to suspect that a reversal has occurred, the proponent must, within 60 days after the date the notice referred to in section 38 is received, submit to the Minister the information referred to in subsection 37(1) and, if the proponent contests that a reversal has occurred, submit the list of reversal risk mitigation measures and monitoring activities that were implemented since the submission of the last monitoring report and a declaration by the proponent that the reversal risk management plan was implemented and that no reversal occurred.Minister’s decisionThe Minister must notify the proponent of the Minister’s decision with respect to whether or not a reversal has occurred.Reversal reportIf the Minister determines that a reversal has occurred, the proponent must, within 18 months after the date of the notice referred to in subsection (2) is received, submit to the Minister the reversal report set out in subsection 37(2) and the declaration specified in subsection 37(4), together with a verification report.
Evaluation of reversalFollowing receipt of the reversal report, the Minister must determine whether the cause of the reversal was within the control of the proponent and whether there was a failure to implement a reversal risk management plan.Voluntary reversalIf the Minister determines that the cause of the reversal was within the control of the proponent or there was a failure to implement a reversal risk management plan, the Minister mayfor the purposes of section 180 of the Act, revoke any offset credits in the proponent’s GHG Offset Credit System account for the project in respect of which the reversal occurred and a number of offset credits in the environmental integrity account equal to the number of offset credits deposited into that account in respect of the project;if the number of offset credits revoked from the proponent’s GHG Offset Credit System account for the project under paragraph (a) is less than the number of offset credits issued to the proponent in respect of the project,for the purposes of subsection 181(1) of the Act, require the proponent to remit compliance units by giving them notice indicating the number of compliance units to be remitted and the deadline by which the remittance is to be made, andwhere the proponent does not remit compliance units in accordance with subparagraph (i) or make a payment in lieu under subsection 181(3) of the Act, revoke, for the purposes of section 180 of the Act, offset credits in the environmental integrity account to make up the difference; andcancel the registration of the project in accordance with paragraph 14(1)(e).Manner of remittanceSubject to subsection (4), the compliance units remitted to the Minister under subparagraph (2)(b)(i), in accordance with subsection 181(2) of the Act, mustin the case of offset credits or units or credits recognized by a regulation made under the Act, have been issued for GHG reductions that occurred within the eight calendar years before the deadline indicated in the notice provided under that subparagraph; andin the case of surplus credits, have been issued within five calendar years before the deadline indicated in the notice provided to the proponent.Surplus creditsIn the case where a proponent is required to remit compliance units, the proponent may remit surplus credits if those surplus credits were issued to a covered facility located in a province listed in Part 2 of Schedule 1 to the Act in the calendar year the Minister notified the proponent under subparagraph (2)(b)(i) of the requirement to remit compliance units.Involuntary reversalIf the Minister determines that the cause of the reversal was not within the proponent’s control and there was no failure to implement the reversal risk management plan, the Minister maylift any suspension;revoke, for the purposes of section 180 of the Act, the number of offset credits in the environmental integrity account that corresponds to the lesser of the quantity of the GHGs released into the atmosphere during the reversal and the quantity of offset credits that have been issued in respect of the project; andif applicable, cancel the registration of the project in accordance with paragraph 14(1)(f).
General
Electronic submissionAny information that is required to be provided to the Minister under these Regulations must be submitted electronically in the form and format specified by the Minister and must bear the electronic signature of the proponent or of their authorized official.Provision on paperIf the Minister has not specified an electronic form and format or if it is not feasible to submit the information in accordance with subsection (1) because of circumstances beyond the control of the proponent or their authorized official, the information must be submitted on paper, signed by the proponent or their authorized official, in the form and format specified by the Minister. However, if no form and format has been so specified, it may be in any form and format.
Notification following changeA proponent must notify the Minister, in writing, within 30 days following the date after a change to any of the following:the information referred to in paragraph 1(a), (b), (d) or (g) of Schedule 1 or paragraph 1(a) or (b) or 2(a), (b) or (c) of Schedule 2; andthe project start date, if it is different than the anticipated start date.Pre-notification of changeA proponent must notify the Minister, in writing, no less than 30 days before the day on which they make a change to any reversal risk mitigation measure or monitoring activity undertaken to mitigate those risks.
Application for transferA request for the transfer of a project registration to another person must be submitted to the Minister by the proponent of the project and must includethe project registration number, and, if applicable, as the case may be:the registration number for the aggregation being transferred and the registration number for each project registered as part of that aggregation, in the case of a transfer of an aggregation of projects, orthe registration number of the aggregation the group of projects was part of, the registration number of the aggregation the projects are being transferred to, if any, and the registration number of each project being transferred, in the case of a transfer of a group of projects registered as part of an aggregation;a declaration signed by the proponent or their authorized official as well as a declaration signed by the person to whom the transfer will be made or their authorized official, stating that they consent to the transfer along with, if the request for a transfer is with respect to an aggregation of projects or a group of project registered as part of an aggregation, a written record of the consent to transfer from the person carrying out the project activities for each project that is being transferred;the information referred to in paragraphs 1(a) to (c) of Schedule 1 or 1(a) to (c) of Schedule 2, as the case may be, with respect to the person to whom the transfer is being made; andthe number of the account in the GHG Offset Credit System account in the tracking system of the person to whom the transfer will be made.Information to be providedThe person to whom the transfer is being made, or their authorized official, must submit to the Ministerthe project registration number of the project to be transferred; andthe information referred to in Schedule 1 or 2, as the case may be, with respect to the person to whom the transfer is being made.DeclarationThe person to whom the transfer is being made or their authorized official must submit to the Minister a declaration, dated and signed by that person or their authorized official, stating that the information they have provided is accurate and complete.
InformationThe proponent must provide the Minister with the following information with any remittance or payment in lieu of remitting compliance units, referred to in paragraph 15(1)(b), subsection 35(1), paragraph 35(2)(b) or paragraph 40(2)(b):the project registration number or in the case of an aggregation of projects, the registration number of the aggregation along with the project registration number for the projects in which an error or omission occurred;the calendar year for which the remittance or payment in lieu is being made;the number of compliance units in respect of which remittance or payment is being made;the details of any payments made under subsection 181(3) of the Act, includingthe amount in dollars paid to the Receiver General for Canada,the applicable rate, andthe date of the payment;the details of any surplus credits or offset credits remitted, including for each type of creditthe number of credits remitted,the date of the remittance transaction,the serial numbers, andthe date or dates on which they were issued; andthe details of any units or credits, recognized as compliance units, remitted, includingthe number of units or credits remitted,the province or territory or program authority referred to in subsection 78(1) of the Output-Based Pricing System Regulations that issued the units or credits,the date on which the unit or credit was retired or locked in the provincial or territorial program for the sole purpose of remittance as a recognized compliance unit under the Act,the serial numbers assigned to them by the province or territory or program authority referred to in subsection 78(1) of the Output-Based Pricing System Regulations,the start date of the offset project for which the unit or credit was issued,the year in which the GHG reduction occurred for which the unit or credit was issued,the offset protocol applicable to the project for which the unit or credit was issued, including the version number and publication date, andthe name of the verification body that verified the units or credits.
Content of recordA proponent must keep a record of the following information for each project for which they are responsible:any information provided in an application for registration of a project, updates to that information, and supporting documents;any requests to transfer the registration of a project to another proponent;all documents, records or data used in preparation of the registration application;documents that demonstrate that the operation, maintenance, and calibration of measuring devices was done in accordance with these Regulations;all data used for a calculation made under these Regulations, for each source, sink and reservoir, including data used to estimate missing data;all sampling, analysis and measurement data used for a calculation made under these Regulations;the calculation, sampling, analysis and measurement methods used for a calculation made under these Regulations;the procedural changes made in data collection and calculations and changes to measuring devices used to quantify GHG emissions and removals;any errors or omissions identified and the measures taken to correct them, with all supporting data and documentation; andfurther records as specified in the protocol regarding the project activities.Location of recordsThe records must be kept and retained at the proponent’s principal place of business in Canada or, on notification to the Minister, at any other place in Canada where they can be inspected.Retention of recordsFor the purposes of subsection 187(5) of the Act, the records specified in subsection (1) must be retained eitherfor the period of beginning on the day the record was created and ending 10 years after the last day of the crediting period to which they relate, orif the record is created with respect to a project referred to in subsection 22(1), the period beginning on the day the record was created and ending 10 years after the last day of the period for which monitoring reports are required.
Available to the publicSubject to sections 254 and 255 of the Act, the Minister may make available to the public the following information with respect to a project:the name of the proponent;the project registration number, project location, project start date, and the number of offset credits issued against that projects; andthe project reports, corrected project reports, reversal reports, verification reports, and monitoring reports submitted.
Amendments to the Output-Based Pricing System Regulations
[Amendments]
[Amendments]
Amendments to the Environmental Violations Administrative Monetary Penalties Regulations
[Amendments]
Coming into Force
RegistrationThese Regulations come into force on the day on which they are registered.
(Subsections 8(1), 16(2) and paragraphs 42(1)(a) and 43(1)(c) and (2)(b))Information to Include in Application for Registration
The following information with respect to the proponent:their name (including any trade name or other name used by them) and civic address;the name, title, civic and postal addresses, telephone number and, if any, email address of their authorized official;the federal Business Number assigned to the proponent by the Canada Revenue Agency or, if the proponent is a charity that does not have a federal Business Number, the registered charity number assigned to them by the Canada Revenue Agency;if the registration is with respect to a sequestration project, a statement indicating whether the proponent is the owner of the land within the geographic boundaries provided under paragraph 2(c), or, if not, the name of the owner of that land;a statement that the proponent has exclusive entitlement to claim the credits issued for the GHG reductions generated by the project and that they have documents that demonstrate that entitlement;information relating to any direct financial incentives received in respect of the project, including the name of the program in the case of a program providing the incentive, and, if applicable, the percentage of credits that the proponent agrees to forgo in accordance with an agreement pertaining to those direct financial incentives;a statement that the proponent has the necessary authorizations to carry out the project activities and that they have documents that demonstrate those authorizations, including, in the case of a project that is located, in part or in whole, on private property that is not owned by the proponent or that uses equipment that is not owned by the proponent, a declaration signed by the owner stating that they authorize the use of their land or their equipment, as the case may be, to implement the project;a statement that the proponent is in compliance with the legislative and regulatory requirements applicable to the project;a statement that a previous registration by the proponent of the same project under these Regulations has not been cancelled as a result of a voluntary reversal; anda statement that neither the proponent nor their authorized official has been found guilty of an offence under section 380 of the Criminal Code within five years prior to submitting the application for registration.
Information with respect to the project:the civic address of the physical site, if applicable;the coordinates (latitude and longitude), expressed in decimal places to five decimal degrees, of the site where the project activities are undertaken;the geographic boundaries of the site where the project activities are undertaken and the site plan, established in accordance with the protocol;the title of the protocol that is applicable to the project and, if more than one version of the protocol is included in the Compendium of Federal Offset Protocols, the date of the applicable version;the project start date or, if the project has not yet started, the anticipated start date;the baseline conditions, set out in the protocol, that must be met prior to the start of the project to be eligible under that protocol and a description of how those conditions are met;a description of the project, including its name, the activities set out in the protocol that are undertaken to prevent GHGs from being emitted or to remove GHGs from the atmosphere, as applicable, and the equipment set out in the protocol used for those activities;a list of the sources, sinks and reservoirs that in accordance with the protocol, must be included in the quantification of the aggregate of all of the GHGs emitted and the GHGs removed from the atmosphere based on the project activities undertaken, a statement indicating whether, in accordance with the protocol, those sources, sinks and reservoirs are part of the baseline scenario or project scenario and, if applicable, the reasons for not including certain sources, sinks and reservoirs in the quantification;a list of the GHGs that must be quantified in accordance with the protocol, as applicable based on the sources, sinks and reservoirs relevant to the project;if applicable, the leakage discount factor set out in the protocol;an estimate of the GHG reductions that will be achieved for the crediting period of the project, expressed in CO2e tonnes;with respect to a project other than a sequestration project, if more than one quantification method is provided for in the protocol, the quantification methods that will be used and the reasons those methods were chosen;with respect to a sequestration project, if provided for in the protocol, which of the tonne-tonne, tonne-year or hybrid tonne-year quantification methods will be used for the duration of the project and the reason that method was chosen;if a quantification method provides for options, the option that will be used and the reason that option was chosen;in the case of a sequestration project for which the tonne-tonne or hybrid-tonne-year quantification method will be used, a copy of the reversal risk management plan and the sum of 3% and the percentage set out in the protocol and based on the reversal risk mitigation measures and monitoring activities implemented for the project;a statement that the project is not registered in another offset credit system and, if the project was previously registered in another offset credit system, the name of the other system, along with the project’s project registration number under the other system, if one was assigned, its registration date in the other system and the date on which its registration was cancelled;a statement that credits will not be attributed under another GHG reduction mechanism for the GHG reductions generated by the project;a statement indicating whether the project is registered to receive any type of credit or payment for environmental attributes resulting from the project; anda statement that the GHG reductions will be additional.
(Subsections 9(2) and (4) and 16(2) and paragraphs 42(1)(a) and 43(1)(c) and (2)(b))Information to Include in an Application for Registration of an Aggregation
Information with respect to the proponent:their name (including any trade name or other name used by them) and civic address;the name, title, civic and postal addresses, telephone number and, if any, email address of their authorized official;the federal Business Number assigned to the proponent by the Canada Revenue Agency, or, if the proponent is a charity that does not have a federal Business Number, the registered charity number assigned to them by the Canada Revenue Agency;a statement that the proponent is authorized, by each person carrying out the activities of each project in the aggregation, to register the project as part of the aggregation and to receive offset credits for the GHG reductions generated by that project and that they have documents that demonstrate that authorization;a statement that the proponent has exclusive entitlement to claim the credits issued for the GHG reductions generated by all the projects in the aggregation and that they have documents that demonstrate that entitlement;if applicable, information related to any direct financial incentives that have been received in respect of any of the projects in the aggregation, including the name of the programs providing the incentives, and, if applicable, the percentage of credits that the proponent agrees to forgo in accordance with an agreement pertaining to those direct financial incentives;a statement that none of the projects in the aggregation, previously registered by the proponent under these Regulations, has had its registration cancelled as a result of a voluntary reversal; anda statement that neither the proponent nor their authorized official has been found guilty of an offence under section 380 of the Criminal Code within five years prior to submitting the application for registration.
Information with respect to the person carrying out the project activities for each project in the aggregation:their name, title, civic and postal addresses, telephone number and, if any, email address;if the registration is with respect to a sequestration project, a statement indicating whether they are the owner of the land within the geographic boundaries provided under paragraph 3(c), and, if not, the name of the owner of the land;a statement that they have the necessary authorizations to carry out the project activities and that they have documents that demonstrate those authorizations, including, in the case of a project that is located, in part or in whole, on private property that is not owned by person carrying out the project activities or that uses equipment that is not owned by the person carrying out the project activities, a declaration signed by the owner stating that they authorize the use of their land or their equipment, as the case may be, to implement the project; anda statement that they have complied with the legislative and regulatory requirements applicable to the project.
Information with respect to each project in the aggregation:the civic address of the physical site, if applicable;the coordinates (latitude and longitude), in decimal places to five decimal places, of the site on which the project activities are undertaken;the geographic boundaries of the site where the project activities are undertaken and the site plan, established in accordance with the protocol;the project start date or, if the project has not yet started, the anticipated start date;the baseline conditions, set out in the protocol, that must be met prior to the start of the project to be eligible under that protocol and a description of how those conditions are met;a description of the project, including its name, the activities set out in the protocol that are undertaken to prevent GHGs from being emitted or to remove GHGs from the atmosphere, as applicable, and the equipment set out in the protocol used for those activities;a list of the sources, sinks and reservoirs that in accordance with the protocol, must be included in the quantification of the aggregate of all of the GHGs emitted and the GHGs removed from the atmosphere based on the project activities undertaken, a statement indicating whether, in accordance to the protocol, those sources, sinks and reservoirs are part of the baseline scenario or project scenario and, if applicable, the reasons for not including certain sources, sinks and reservoirs in the quantification;a list of the GHGs that must be quantified in accordance with the protocol, as applicable based on the sources, sinks and reservoirs relevant to the project;if applicable, the leakage discount factor set out in the protocol;an estimate of the GHG reductions that will be generated during the crediting period of the project, expressed in CO2e tonnes;with respect to a project, other than a sequestration project, if more than one quantification method is provided for in the protocol, the quantification method that will be used and the reason those methods were chosen;with respect to a sequestration project, if provided for in the protocol, which of the tonne-tonne, tonne-year or hybrid tonne-year quantification methods will be used for the duration of the project and the reason that method was chosen;if a quantification method provides for options, the option that will be used and the reason that option was chosen;in the case of a sequestration project for which the tonne-tonne or hybrid-tonne-year quantification method will be used, a copy of the reversal risk management plan and the sum of 3% and the percentage set out in the protocol and based on the reversal risk mitigation measures and monitoring activities implemented for the project;a statement that the project is not registered in another offset credit system and, if the project was previously registered in another offset credit systemthe name of the other system,the registration number of the project, if one was assigned,the registration number of any aggregation to which the project belonged in that other system, if one was assigned,the project’s registration date in the other system, andthe date on which that registration was cancelled;a statement that credits will not be attributed under another GHG reduction mechanism for the GHG reductions generated by the project;a statement of whether the project is registered to receive any type of conservation or ecosystem service payment or credit, and the name of the program in which they are registered; anda statement that the GHG reductions will be additional.
Information with respect to the aggregation:the title of the protocol that is applicable to the projects and, if more than one version of that protocol is included in the Compendium of Federal Offset Protocols, the date of the applicable version;in the case of a group of projects that have previously been registered as part of another aggregation under these Regulations, the project registration numbers of each of the projects in the group;an estimate of the GHG reductions that will be generated by the projects that are part of aggregation, expressed in CO2e tonnes;the number of projects in the aggregation; anda description of the aggregation, including its name, the activities set out in the protocol that are undertaken to prevent GHGs from being emitted or to remove GHGs from the atmosphere, as applicable, and the equipment set out in the protocol used for those activities.
(Subsections 20(1) and (2))Content of the Project Report
Information with respect to the proponenttheir name (including any trade name or other name used by them) and civic address;the name, title, civic and postal addresses, telephone number and, if any, email address of their authorized official;the name, title, civic and postal addresses, telephone number and, if any, email address of a contact person, if different from the authorized official;the federal Business Number assigned to the proponent by the Canada Revenue Agency, or, if the proponent is a charity that does not have a federal Business Number, the registered charity number assigned to them by the Canada Revenue Agency;a statement that the proponent has exclusive entitlement to the credits issued for the GHG reductions generated by the project and that they have documents that demonstrate that entitlement;a statement that the proponent has the necessary authorizations to carry out the project activities and that they have documents that demonstrate those authorizations, including, in the case of a project that is located, in part or in whole, on private property that is not owned by the proponent or that uses equipment that is not owned by the proponent, a declaration signed by the owner stating that they authorize the use of their land or their equipment to implement, as the case may be;a statement the proponent is in compliance with the legislative and regulatory requirements applicable to the project;a statement that neither the proponent nor their authorized official has been found guilty of an offence under section 380 of the Criminal Code since submitting the application for registration; anda statement that no credits were attributed under another GHG reduction mechanism for the GHG reductions generated by the project.
Information with respect to the project:the project registration number;the reporting period covered by the project report;the title of the protocol that is applicable to the project and, if more than one version of the protocol is included in the Compendium of Federal Offset Protocols, the date of the applicable version;a description of any changes to the latest information provided in either the project registration application, the latest application for renewal of the crediting period or the latest project report;a description of the project, including the activities set out in the protocol undertaken to prevent GHGs from being emitted or to remove GHGs from the atmosphere, as applicable, and the equipment set out in the protocol, used for those activities;a list of the sources, sinks and reservoirs that, in accordance with the protocol, must be included in the quantification of aggregate of all of the GHGs emitted and the GHGs removed from the atmosphere based on the project activities undertaken, for each calendar year, specifying, in accordance with the protocol, if those sources, sinks and reservoirsare included in the baseline scenario, orare included in the project scenario;the value that corresponds to the leakage discount factor that was applied when determining the quantity of GHG reductions, in accordance with the protocol, if applicable;the aggregate of all of the GHGs emitted and the GHGs removed from the atmosphere from the sources, sinks and reservoirs as specified in the protocol for the baseline scenario, quantified in accordance with the protocol, expressed in CO2e tonnes, by calendar year;the aggregate of all of the GHGs emitted and the GHGs removed from the atmosphere from the sources, sinks and reservoirs included in the protocol for the project scenario, quantified in accordance with the protocol, expressed in CO2e tonnes, by calendar year;if, for the first project report, the difference between the quantity determined for A under subsection 20(1) — or the total quantity referred to in paragraph (h) — and that determined for B under subsection 20(1) — or that referred to in paragraph (i) — indicates a net increase in GHG emissions, the quantity of GHG emissions that must be carried forward to the next project report in accordance with subsection 20(5) of these Regulations;the applicable percentage determined for element C in the formula set out in subsection 29(2) of these Regulations;any data, values, and calculation methods used to quantify the GHG reductions referred to in subsections 20(1) or (2), including any applicable GHG leakage reductions;any information regarding GHG reductions that the protocol requires to be included in the project report; andany data and calculations used to estimate missing data.
A statement that environmental and social safeguards, as set out in the protocol, have been implemented to minimize the potential negative outcomes of the project and a description of the implemented measures.
If the proponent is choosing not to have a project report verified in accordance with subsection 20(9), a statement that they have chosen not to have the project report verified and they have agree to not have offset credits issued for the period covered by that report.
(Subsection 20(3))Content of the Report for an Aggregation of Projects
Information with respect to the proponenttheir name (including any trade name or other name used by them) and civic address;the name, title, civic and postal addresses, telephone number and, if any, email address of their authorized official.the name, title, civic and postal addresses, telephone number and, if any, email address of a contact person, if different from the authorized official;the federal Business Number assigned to the proponent by the Canada Revenue Agency, or, if the proponent is a charity that does not have a federal Business Number, the registered charity number assigned to them by the Canada Revenue Agency;a statement that the proponent has exclusive entitlement to claim the credits issued for the GHG reductions generated by the projects in the aggregation and that they have documents that demonstrate that entitlement;a statement that neither the proponent nor their authorized official has been found guilty of an offence under section 380 of the Criminal Code since submitting the application for registration; anda statement that no credits were attributed under another GHG reduction mechanism for the GHG reductions generated by the projects in the aggregation.
Information with respect to the person carrying out the project activities for each project in the aggregation:a statement that they have the necessary authorizations to carry out the project activities and that they have documents that demonstrate those authorizations, including, in the case of a project that is located, in part or in whole, on private property that is not owned by person carrying out the project activities or that uses equipment that is not owned by person carrying out the project activities, a declaration signed by the owner stating that they authorize the use of their land or their equipment to implement, as the case may be; anda statement that they have complied with the legislative and regulatory requirements applicable to the project.
Information with respect to each project in the aggregation:the project registration number;a description of any changes to the latest information provided in either the registration application, the latest application for renewal of the crediting period or in the latest project report;a description of the project, including its name, the activities set out in the protocol that are undertaken to prevent GHGs from being emitted or to remove GHGs from the atmosphere, as applicable, and the equipment, as set out in the protocol, used for those activities;a list of the sources, sinks and reservoirs that, in accordance with the protocol, must be included in the quantification of the aggregate of all of the GHG emitted and the GHGs removed from the atmosphere based on the project activities undertaken, for each calendar year, specifying, in accordance with the protocol, if those sources, sinks and reservoirsare included in the baseline scenario, orare included in the project scenario;the value that corresponds to the leakage discount factor that was applied when determining the quantity of GHG reductions, in accordance with the protocol, if applicable;the aggregate of all of the GHGs emitted and the GHGs removed from the atmosphere from the sources, sinks and reservoirs as specified in the protocol for the baseline scenario, quantified in accordance with the protocol, expressed in CO2e tonnes, by calendar year;the aggregate of all of the GHG emitted and the GHGs removed from the atmosphere from the sources, sinks and reservoirs as specified in the protocol for the project scenario, quantified in accordance with the protocol, expressed in CO2e tonnes, by calendar year;if, in the first project report, the difference between the quantities referred to in element A of the formula set out in subsection 20(3) — or in paragraph (f) — and element C of the formula set out in subsection 20(3) — or in paragraph (g) — indicate a net increase in GHG emissions, the quantity of GHG emissions that must be carried over in accordance with subsection 20(5) of these Regulations;the applicable percentage determined for C in the formula set out in subsection 29(2) of these Regulations;any data, values, and calculation methods used to quantify the GHG reductions referred to in subsection 20(3) of these Regulations, including any applicable GHG leakage deductions;any information regarding GHG reductions that the protocol requires to be included in the project report; andany data and calculations used to estimate missing data.
With respect to each project, a statement that environmental and social safeguards, as set out in the protocol, have been implemented to minimize the potential negative outcomes of the project and a description of the implemented measures.
If the proponent is choosing not to have a project report verified in accordance with subsection 20(9) of the Regulations, a statement that they have chosen not to have the project report verified and that they agree to not have offset credits issued for the period covered by the report.
Information with respect to the aggregation:the period covered by the project report; andthe title of the applicable protocol and, if more than one version of the protocol is included in the Compendium of Federal Offset Protocols, the date of the applicable version.
(Subparagraph 24(1)(b)(iii) and section 28)Content of the Verification Report
The following information for the verification of all reports:with respect to the proponent:their name (including any trade name or other name used by them) and civic address,the name, title, civic and postal addresses, telephone number and, if any, email address of the proponent’s authorized official,the name, title, civic and postal addresses, telephone number and, if any, email address of a contact person, if different from the authorized official, andthe federal Business Number assigned to them by the Canada Revenue Agency, or, with respect to a charity that does not have a federal Business Number, the registered charity number assigned to them by the Canada Revenue Agency;with respect to the project:the project registration number,the municipal address of the physical site, if applicable,the coordinates (latitude and longitude), in decimal places to five decimal places, of the site on which the project activities are undertaken,the geographic boundaries of the site where the project activities are undertaken and the site plan, established in accordance with the protocol, andthe title of the protocol that is applicable to the project and, if more than one version is included to the Compendium of Federal Offset Protocols, the date of the applicable version; andwith respect to the verification:the name and civic address of the verification body, as well as the name, telephone number and email address of the lead verifier for the team that conducted the verification,the name and contact information of the accreditation organization that accredited the verification body and the date of the accreditation,the names and functions of each member of the verification team,the version of the ISO standard 14064-3 according to which the verification was conducted and a description of the objectives and scope of the verification and the verification criteria,a summary of the verification procedures conducted on the data and information supporting the report that is being verified includingany assessments, data sampling, tests and reviews that were conducted during the verification,any tests of the GHG information system and controls,the date and location of each visit conducted for the purposes of section 27 of these Regulations, anda declaration, dated and signed by the lead verifier, stating that the requirements of section 25 of these Regulations have been complied with and that any real or potential conflicts of interest have been effectively managed,a declaration signed and dated by a reviewer who is not a member of the verification team, stating their approval of the verification report, including the name, civic address, telephone number and email address of that reviewer,the period covered by the report that is being verified, andthe date and location of each visit that has been conducted for the purposes of the verification.
In the case of a verification of a project report or corrected project report, the following information:with respect to the first project report, an indication of whether the project start date is correct;the GHG reductions generated by the project — the quantity of tonnes of GHG prevented from being emitted or removed from the atmosphere — expressed in CO2e tonnes, for each calendar year covered by the report;a record of errors or omissions, if they may be quantified, capable of influencing the quantity of GHG reductions generated by the project, identified during the verification, of the data, information or methods used in the preparation of the report thatwith respect to each error or omission, the number of CO2e tonnes to which the error or omission corresponds, the related percentage calculated in accordance with subparagraph 24(2) or (3), as the case may be, of these Regulations and a statement indicating whether the error or omission results in an understatement or overstatement,with respect to the aggregate of errors or omissions, if it may be quantified, the sum of the absolute value of the overstatements and understatements, expressed in CO2e tonnes, the related percentage calculated in accordance with subparagraph 24(3) of these Regulations and a statement indicating whether the net result is an understatement or an overstatement, andincludes any corrections made by the proponent as a result of the errors or omissions;an opinion from the verification body in accordance with Standard ISO 14064-3 as to whetherthe quantity of GHG reductions reported in the report was calculated in accordance with these Regulations,the report was prepared in accordance with these Regulations,the project was implemented in accordance with the applicable protocol,the conditions of registration for the project, set out in section 8 or 9, are still being met at the time of the preparation of the verification report,the proponent meets the requirements for the issuance of credits, set out in section 7, at the time of the preparation of the verification report, andno material discrepancy exists with respect to the quantity of GHG reductions reported in the report; andany modifications or limitations, related to a modified or adverse opinion, that prevented the verification body from providing an unmodified opinion with respect to the elements set out in paragraph (d), if applicable.
In the case of a verification of a reversal report, the following information:the quantity of GHGs released into the atmosphere during the reversal up to the date the reversal report is prepared, expressed in CO2e tonnes;a record of errors or omissions capable of influencing the assessment of the quantity of the GHGs released into the atmosphere during the reversal, identified during the verification, of data, information or methods used in the preparation of the reversal report thatincludes any corrections made by the proponent as a result of the errors or omissions, andsets out the calculations made for the purpose of the opinion referred to in subparagraph 3(c)(iii);an opinion from the verification body as to whetherreversal risk mitigation measures and monitoring activities were implemented in accordance with the reversal risk management plan,the reversal report was prepared in accordance with these Regulations,the errors or omissions identified during the verification and referred to in paragraph (b) constitute a material discrepancy; andany modifications or limitations, related to a modified or adverse opinion, that prevented the verification body from providing an unmodified opinion with respect to the elements set out in paragraph (c).
In the case of a verification of a monitoring report, the following information:an opinion as to whetherthe monitoring report was prepared in accordance with these Regulations,the reversal risk mitigation measures and monitoring activities were implemented in accordance with the reversal risk management plan, andthe mitigation measures and monitoring activities that were implemented were those set out in the monitoring report; andany modifications or limitations, related to a modified or adverse opinion, that prevented the verification body from providing an unmodified opinion with respect to the elements set out in paragraph (a).