The Carbon Market

Early Reduction Credits

Only emitters described in Section 2, Paragraph 1 of the Regulation respecting the cap-and-trade system for greenhouse gas emission allowances as of January 1, 2013 and that meet the conditions set out in Title III, Chapter III of the Regulation can qualify to receive early reduction credits.

Greenhouse gas (GHG) emission reductions that qualify for early reduction credits must have been achieved by an emitter described in Paragraph 1, Section 2 of the Regulation respecting the cap-and-trade system for greenhouse gas emission allowances during the eligibility period that ran from January 1, 2008 to December 31, 2011.

Emitters that qualified for early reduction credits could file between January 1, 2013 and May 31, 2013, a request for early reduction credits. Such an emitter had to be registered to the CITSS system and have received an account number.

Early reduction credits were credited on January 14, 2014 to the general accounts of emitters that submitted eligible projects and filed an application that was deemed complete and satisfactory by the Minister.

Early reduction credits have the same value as any other GHG emission allowances and may be used at any time to cover GHG emissions.