- An estimated 2,836 jobs have been supported through investments in offset projects: 1,638 direct jobs, 779 indirect jobs and 419 induced jobs over the five-year period.
- Total government revenue (federal, provincial and municipal) from the 31 offset projects is estimated at $49 million from 2008 to 2012.
- During this period, the public sector will have spent approximately $60 million in offset purchases.
- Offset projects are sourced from a cross-section of industry sectors and have provided over 1.5 million tonnes of carbon offsets for Pacific Carbon Trust’s public sector clients as of June 29, 2012.
- In total, an estimated 4.7 million tonnes of greenhouse gas emission reductions will occur from the projects between 2008 and 2012; an estimated 27 million tonnes of emission reductions will be achieved over the projects’ lifetime.
- The economic impact from capital expenditures was spread over seven industry sectors:
- The economic impact of the projects’ annual operating expenditures is estimated at $31.8 million. This includes $7.7 million each year in government revenues and an estimated 438 supported jobs.
- Despite global economic uncertainty, the Deloitte report, ‘British Columbia: Balancing Opportunities and Risks in the Global Carbon Economy’, makes clear that significant growth and opportunity exist and that BC is uniquely positioned to capitalize on these opportunities; however, competition is increasing and BC’s continuing competitive advantage cannot be taken for granted.
- In less than a decade, regulated carbon markets have grown to more than USD120 billion, representing more than eight billion tonnes of carbon transactions.
- California and Quebec alone are projecting a need for 239 million offsets through 2020.
- Countries continue to implement emission trading systems:
- Korea and Australia have legislated an emissions trading system.
- China and Brazil are in the process of designing emissions trading platforms.
- Costa Rica, Turkey and Vietnam and a dozen other nations are also developing carbon markets.
- A recent Ipsos poll found that eight-in-ten (79%) British Columbians believe the BC government should be working to stimulate jobs and investment in the clean-tech sector and 72% believe the government should continue to take an active role in reducing greenhouse gas emissions and fighting climate change.
About Pacific Carbon Trust
Pacific Carbon Trust is a Crown corporation established in 2008 to deliver BC-based greenhouse gas offsets, to help clients meet their carbon reduction goals and to support the growth of BC’s low-carbon economy. For more information, please visit www.pacificcarbontrust.com.
Source: Pacific Carbon Trust (PCT).
