The Vancouver 2010 Olympics will be the first carbon-neutral
event of its kind. This is all thanks to Offsetters, a leading BC
supplier of high-quality carbon offsets, and its arrangement with
the BC Cleantech CEO Alliance. Under the multi-million-dollar
sponsorship agreement, up to 300,000 tonnes worth of carbon offsets
will be provided to the Vancouver Organizing Committee for the 2010
Olympic and Paralympic Winter Games (VANOC). This sponsorship makes
the 2010 Winter Games the first in Olympics in history to have an
Official Supplier of Carbon Offsets.
To provide the projects, Offsetters is working with local clean
technology companies, including Nexterra, Sempa Power, Lignol
Innovations, Ballard Power and Powertech — all members of
the BC Clean Tech CEO Alliance. The project portfolio will comprise
projects that focus on energy efficiency or the production of
renewable energy. So far, the proposed offset projects include fuel
cell technology in transit buses, energy-efficiency systems, as
well as biomass gasification and hydrogen fuelling stations to
reduce industrial use of gasoline and electricity. The projects and
technologies from these clean technology companies will play a
pivotal role in bringing this undertaking to fruition.
Overall, these projects will offset a minimum of 110,000 tonnes
of direct carbon emissions related to the Olympic Games. This
emissions estimate includes all aspects of staging the Games in
Vancouver and Whistler, including transportation, energy
consumption, venue construction and the cross-country torch relay.
VANOC and Offsetters also aim to offset an additional 190,000
tonnes of indirect carbon emissions through collaboration with
Games partners, sponsors and participants.
All projects included in the project portfolio will be
high-quality offsets consistent with standards applied by the new
BC-based Pacific Carbon Trust. The Pacific Carbon Trust was created
to provide carbon offsets to the BC government, to achieve its goal
of carbon neutrality by 2010. The result of these policies is that
there is now a market for carbon for BC-based projects, which is
providing an additional revenue stream for BC clean technology
projects. In the next TLQ, we'll discuss the role and
benefits of the Pacific Carbon Trust.
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On March 11, 2009, the Office of the Superintendent of Financial
Institutions of Canada (OSFI) released a revised version of Guideline B-10, Outsourcing of Business Activities, Functions and Processes.
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