Q-2, r. 46.1 - Regulation respecting a cap-and-trade system for greenhouse gas emission allowances

Section 70.4 Disposition versions

2021-07-15

70.4. The Minister, after receiving an issuance request accompanied by a verification report that includes a positive or qualified positive verification opinion, issues, as the case may be, an offset credit for each metric tonne CO2 equivalent of reduction in GHG emissions attributable to the project, quantified in accordance with the ministerial regulation that is applicable to the project, or offset credits corresponding to removals of GHG from the atmosphere attributable to the project, quantified in accordance with the ministerial regulation that is applicable to the project.

The Minister places 97% of the offset credits, rounded down to the nearest whole number, into the promoter’s general account.

The remaining offset credits are placed into the Minister’s environmental integrity account.

Despite the first paragraph, the Minister cannot issue offset credits, in whole or in part, after noting in a project report submitted with an issuance request,

(1)  false or misleading information;

(2)  errors, omissions or inaccuracies in the quantification, in accordance with the ministerial regulation applicable to the project, of the GHG emission reductions or offset credits corresponding to the removals of GHG from the atmosphere attributable to the project; or

(3)  a failure to comply with a condition in the ministerial regulation applicable to the project.

O.C. 1184-2012, s. 45; O.C. 824-2021, s. 4.

2012-12-19

70.4. Only an emitter or participant person domiciled in Québec, in the case of a natural person, or having an establishment in Québec, in other cases, may act as the promoter of an offset credit project.

O.C. 1184-2012, s. 45.