The Sustainable Community Projects aggregate small emitters (under 25,000 tonnes of CO2 equivalent per year) across the provinces of Quebec (operating since 2010) and Ontario (under development) and cluster them into regional hubs to scale climate action. This community approach was conceived by long standing project developer and B-Corp. Certified Will Solutions (in Quebec, Solutions Will). The programs aggregate small individual GHG emissions reduction efforts being undertaken by businesses, local governments and organizations into a large aggregate volume which can then be verified as carbon credits.
Emissions reductions currently come from diverse activities such as improved energy efficiency and energy conversion for buildings and methane avoidance through redirection of waste away from landfills, with plans to include optimal usage of transportation for businesses. Together, the projects are expected to reduce more than 100 million GHG emissions over the next ten years and generate an equivalent number of carbon credits.
The Quebec Sustainable Community is one of the largest projects in Canada to be registered with Verra, and has been successfully generating verified carbon units (VCUs) since 2010 using the VM0018 methodology developed by Will Solutions. Buyers of these credits include large Canadian and international corporations, such as major financial institutions, pension funds, governmental organizations, industrials and food companies. Will Solutions has a strong track record of growing membership in Quebec and is expanding into Ontario in 2022.
To learn more about Will Solutions and the Sustainable Community Projects, please visit its website at solutionswill.com.
GHG Emissions Reductions through Methane Avoidance
The Sustainable Community Projects will focus on enrolling small emitters that are implementing uncommon practices to reduce GHG emissions across waste (prevention, reduction, composting, recycling and reuse), energy and in time, transport initiatives. Approximately 70% of emissions reductions anticipated from these community projects would be considered methane avoidance, delivering action towards the UN Global Methane Pledge. Methane is the second most abundant anthropogenic GHG, with more than 80 times the global warming potential of CO2 in the first 20 years of reaching the atmosphere. Reducing methane provides a quick benefit of limiting near-term temperature rise.1
Sustainable & Equitable Communities in Partnerships for the Goals
By increased access to climate mitigation strategies and directly supporting integration into value chains and markets, these projects offer small emitters a financial return for their GHG reduction measures. The Sustainable Community Projects seek to engage vulnerable economic players, with an eye to inclusivity and accessibility for all, that may be otherwise overlooked or disincentivized to participate in climate action. Through democratizing access to the carbon markets, the projects encourage green innovation and spur economic opportunities linked to climate mitigation and adaptation, to the benefit of all stakeholders in society.
Carbon Credit Stream
The Company has the right to receive half of the carbon credits generated by the projects up to a maximum of 44.1 million credits over the term of the carbon credit stream and the option to extend the term for an additional 10 years. The first delivery of approximately 425,000 to 525,000 carbon credits is expected in the second half of calendar year 2023, scaling to approximately 10 million carbon credits in 2030. Emissions reductions generated by the projects will be independently verified and registered by Verra. Carbon Streaming will also make ongoing delivery payments to Will Solutions for each credit sold.