What are offsets and how are they handled under the WCI program?
Offsets are reductions in greenhouse gas emissions from outside the capped sectors, such as forestry and agriculture. Offset credits may be used, provided they meet rigorous criteria to ensure that emission reductions are real, verifiable, surplus/additional, permanent and enforceable. Offset credits may be traded. The WCI program limits the use of offsets for compliance purposes to ensure that a majority of the required emissions reductions is achieved in the sources covered by the cap-and-trade program. The WCI has established the Offset Committee to make recommendations on the design and operation of the WCI offset system. The Markets Committee will also develop recommendations on common elements needed to guide the proper development and operation of a robust and transparent offset credit trading market.
