Transitioning to a low carbon future : is Pacific Carbon Trust an effective policy instrument?
Subject
Pacific Carbon Trust
Abstract
Better communication, more stakeholder engagement, policy integration, policy certainty
and more resources to encourage innovation and access are needed to improve the effectiveness
of Pacific Carbon Trust (PCT). This British Columbia Crown corporation, created to establish a
carbon offset market and facilitate a carbon-neutral government, successfully met its ambitious
first year target to offset the provincial government’s operating emissions. Stakeholder
interviews reveal most participants feel PCT has been largely effective and has the potential to
be replicated with modifications in other jurisdictions. As part of a larger climate change action
framework, this instrument can be used to demonstrate innovative ways to reduce greenhouse
gas (GHG) emissions while helping influence cultural norms and behaviour. It can also play a
part in stimulating the local green economy and positioning B.C. as a green innovation hub.
Mixed methods have been used to evaluate how effectively PCT is living up to its potential.