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Press Release

A Win for Biothermica: Minister Heurtel Spotlights the First Sale of Carbon Offset Credits

March 17, 2015 – The Minister of Sustainable Development, Environment and the Fight Against Climate Change, David Heurtel, proudly reported that Biothermica Technologies of Montréal has made its first sale on the Québec-California market in a transaction that saw more than 80,000 tons of carbon offset credits go for $860,000 CAD. The minister made the announcement during the opening ceremonies of the Americana trade show.

“It’s a major breakthrough for Biothermica, enabling this Québec company to demonstrate its know-how and leadership beyond our borders. This first sale on the Québec-California carbon market is a fine example of the multiple business opportunities that the market can offer to Québec companies that are positioned to propose innovative solutions for efficiently fighting climate change. Biothermica has done well in this market, which allows Québec and California emitters and fuel distributors to meet their annual greenhouse gas emission compliance requirements by using up to 8% in offset credits,” Minister Heurtel stated.

The “offset credits” component of the Regulation respecting a cap-and-trade system for greenhouse gas (GHG) emission allowances makes it possible for companies in economic sectors, that are not directly targeted by the cap-and-trade system, to complete GHG emission reduction projects, obtain credits for the projects, and sell the credits to emitters that are subject to the carbon market, credits that the latter can use for regulatory purposes.

The economic spinoffs that derive from the creativity and leadership of Québec entrepreneurs who develop green technologies are additional to the profits generated by the carbon market and the 2013-2020 Climate Change Action Plan (PACC 2013-2020). The carbon market is the centrepiece of Québec’s strategy for fighting climate change. All income it generates is paid into the Green Fund and reinvested to implement measures set out in the PACC 2013-2020, which will have 3.3 billion dollars at its disposal for reducing GHG emissions and fostering the adaptation of Québecsociety to the consequences of climate change, while at the same time helping to re-launch Québec’s economy.

“Biothermica’s success proves that the carbon market stimulates innovation, entrepreneurial creativity and the development of Québec’s expertise in leading-edge niche markets. In addition to fostering the re-launch and sustainable development of our economy, it’s a green fiscal tool that makes it possible for us to work together to counter climate change, in order to ensure a better quality of life for our children,” Minister Heurtel concluded.

 

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SOURCE:
Guillaume Bérubé
Press Officer
Cabinet of the Minister of Sustainable Development, Environment and the Fight Against Climate Change
Tel.: 418-521-3911

INFORMATION :
Media Relations
Ministère du Développement durable, de l’Environnement et de la Lutte contre les changements climatiques
Tel.: 418-521-3991


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