Transitioning to a low carbon future : is Pacific Carbon Trust an effective policy instrument?
Pacific Carbon Trust
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.