Environment Minister Terry Lake announced $2 million in funding for the Prince George-based Carbon Offset Aggregation Cooperative (COAC).
This first-of-a-kind program helps heavy equipment operators and trucking companies to lower their carbon emissions.
COAC is a marketing cooperative that provides a framework for owners of heavy equipment and trucks to reduce operating costs and create, aggregate and sell carbon offsets that are produced through a reduction in diesel consumption.
The funding is essential seed money that will help COAC provide more members with low-interest loans to retrofit their heavy duty diesel trucks and equipment to increase fuel efficiency, save money and reduce carbon emissions. Currently, 33 units (trucks and equipment) have been retrofitted. Installation has been completed on the first truck fleet of six units and COAC expects to install another 24 in the near future.
This funding is expected to provide financing to retrofit 100 units per month, resulting in emission reductions of approximately 13,400 tonnes over the first three years. With every 1,000 litres of diesel saved, approximately three tonnes of carbon dioxide will be diverted from the atmosphere. One truck operating for 250 days a year can use up to 300 litres per day and will emit approximately 200 tonnes of carbon annually.
The cooperative provides financing to member businesses for modifications of existing vehicles and machinery that use fossil fuels (diesel). Operators will also receive driver-awareness training that will lead to even more energy efficiencies and GHG reductions that will save them money.
To learn about the first company to participate in the COAC program, visit:
These reductions in fuel consumption and GHGs emitted will produce carbon offsets, which are then aggregated and sold, transferred or traded by COAC. The proceeds of the sales are returned to the member as a dividend. The offsets are sold as made-in-B.C. greenhouse gas offsets.
This is part of a suite of B.C. Clean Transportation programs and follows on the heels of the Clean Energy Vehicle Program and BC SCRAP-IT funding, which the Province announced in November 2011.
Terry Lake, Minister of Environment -
"This co-op demonstrates that being environmentally responsible can save companies money. It also shows how our Climate Action Plan benefits rural communities by helping business owners save money, reduce emissions and participate in a program that benefits B.C. families and helps create jobs."
Shirley Bond, MLA Prince George-Valemount -
"This made-in-the-North program will reduce emissions and help heavy-duty vehicle operators increase their fuel efficiency. Congratulations to everyone who worked so hard to create this unique program."
Pat Bell, MLA Prince George-Mackenzie -
"COAC is showing some real innovation with this program, and it shows how British Columbia is a leader in developing innovative solutions to lower GHG emissions."
Mary Anne Arcand, COAC chair -
"This kind of support from government sends a clear signal that it is serious about addressing climate change, and supportive of industry's initiative to be innovative and engaged at the ground level."
COAC member representative Doug Pugh -
"Having the funding to help smaller operators like me get on the program makes it possible for everybody to do their part in reducing fuel consumption and emissions."
- COAC currently represents 25 member companies provincewide.
- Collectively, the companies consume more than 58-million litres of diesel annually.
- The program helps business owners overcome the technological and financial barriers to making carbon-reduction changes to their operations.
- The purpose is to provide a fuel-efficiency and carbon-reduction program for owners of heavy equipment and long- and short-haul trucks to reduce operating costs, aggregate and transfer, trade or sell carbon offsets.
- COAC expects the average savings from these measures to range from 10 to 15 per cent annually.
BC Newsroom - Ministry of Environment: http://www.newsroom.gov.bc.ca/ministries/environment-1/
Carbon Offset Aggregation Cooperative (COAC):
Ministry of Environment