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ARTICLE · 08 MAY 2006

Constructing Carbon Contracts – The Building Blocks Of An Emissions Trading Contract

Blake, Cassels & Graydon LLP
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Under the Kyoto Protocol, emissions trading is one of the key market mechanisms by which countries can meet their emission reduction targets. With the Kyoto Protocol in force, emissions trading systems are either underway or will be implemented shortly in many countries around the world.

CanadaEnergy and Natural Resources
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Article by Selina Lee-Andersen, ©2006 Blake, Cassels & Graydon LLP

This article was originally published in Blakes Bulletin on Energy - Oil & Gas, March 2006

Under the Kyoto Protocol, emissions trading is one of the key market mechanisms by which countries can meet their emission reduction targets. With the Kyoto Protocol in force, emissions trading systems are either underway or will be implemented shortly in many countries around the world.

The Canadian Domestic Offsets System, which is backed by the Climate Fund Agency, will be implemented in early 2006. Beginning on March 31, 2006, the Climate Fund Agency will purchase credits created by the Domestic Offsets System as well as international credits sanctioned under the Kyoto Protocol. To date, one billion dollars has been allocated for purchases by the Climate Fund Agency, which could yield reductions of between 75 and 115 megatonnes annually between 2008 and 2012. Canada’s reduction goal under the Kyoto Protocol is 270

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