PERRL program provides GHG reduction incentive for qualifying projectsClimate Change Central has joined the federal government in a program to purchase greenhouse gas (GHG) emission reductions from industry and municipalities.
The $15-million Pilot Emission Removals, Reductions and Learning (PERRL) initiative provides Canadian companies, organizations and individuals an economic incentive to take immediate steps to reduce emissions. Climate Change Central is providing funding and will sit on a committee that selects qualifying Alberta projects in the program's second and third rounds.
"This initiative gives us a way to reward action in Alberta in areas such as agriculture that might not have a financial reason or regulatory obligation to reduce their greenhouse gas emissions," said Climate Change Central president and CEO Allan Amey. "For a modest investment, we expect to leverage a significant amount of information in the important, developing field of domestic offsets."
Running through 2007, PERRL targets four strategic sectors: landfill gas capture and combustion; CO2 capture and geological storage; renewable energy; and biological sinks.
The current, second round involves $2.5 million of purchases in renewable energy and a further $2.5 million for biosequestration projects.
Under the program, the federal government purchases, then retires, emissions reductions and removals from qualified projects on a fixed price-per-tonne basis, through a competitive auction process. For example, a successful, $1-per-tonne bid to reduce emissions by 100,000 tonnes between 2003 and 2007 would result in a $100,000 purchase over five years.
Climate Change Central is a private-public partnership that co-ordinates and encourages activities to reduce greenhouse gas emissions in Alberta.
More information is available from Helen Corbett, communications director, Climate Change Central, 403/517-2717, Web sites www.climatechangecentral.com or www.ec.gc.ca/PERRL.