VICTORIA - More companies that operate diesel trucks and heavy equipment will be going green in B.C. as a result of the next phase of government funding for the Prince George-based Carbon Offset Aggregation Cooperative (COAC).
The second half of the previously announced $2 million in funding will provide the co-operative with money for financing the retrofit of 100 trucks a month. The result will be the elimination of over 20,000 tonnes in GHG emissions and the reduction of over eight million litres of diesel fuel in the next year, with increased reductions each year as more members enter the program.
Since its inception over six months ago, COAC has achieved early success with a business case that is appealing to a range of British Columbia's heavy equipment companies from mobile businesses like Overhaul Transport to stationary operators such as L & M Lumber.
The steady growth in membership includes representatives from the forestry, freight and construction sectors along with local governments and is further testament to the appeal of COAC's unique strategy to reduce fuel costs while also reducing GHG emissions.
COAC provides financing to member businesses for modifications of existing vehicles and machinery that use fossil fuels (diesel). Operators also receive driver awareness training that leads to even more energy efficiencies and GHG reductions that will save them money.
These reductions in both fuel consumption and GHGs emitted will produce carbon offsets, which are then aggregated and sold, transferred or traded by COAC. The proceeds of the sales are then returned to the member as a dividend. The offsets are sold as made-in-B.C. greenhouse gas offsets.
This latest funding update is part of our broader climate policies that benefit all British Columbians. These include the Northern and Rural Homeowner Benefit, LiveSmart B.C.'s Home Energy Efficiency incentives and B.C. Small Business program, as well as the SCRAP-IT BC program that provides incentives to help British Columbians get out of their old cars and into cleaner forms of transportation.
Terry Lake, Minister of Environment -
"COAC, along with government programs like the Rural and Northern Homeowner grant, demonstrates our climate-change actions benefit the entire province. With these programs, British Columbians in northern communities and throughout the province have many options to reduce their GHG emissions and save money."
Shirley Bond, MLA for Prince George-Valemount -
"Prince George won't be the only community benefiting from the expansion of the COAC program. By helping heavy industry around the province save money and reduce greenhouse gas emissions, everyone will benefit from cleaner air and a stronger economy."
Pat Bell, MLA for Prince George-Mackenzie -
"COAC continues to demonstrate that innovation and environmental responsibility are alive and well in Prince George. This co-operative is leading B.C. companies and communities towards a new standard for environmentally viable business solutions."
Mary Anne Arcand, chair, COAC -
"It's great to see the Province's continued commitment to a cleaner, greener economy in action. We are very appreciative of the government's support on this initiative. This contribution enables us to accelerate implementation of the program, reducing diesel consumption and greenhouse gas emissions in thousands of vehicles and machines."
Alan Fitzpatrick, CFO, L&M Lumber, Nechako Lumber Co. Ltd. & COAC member -
"The Nechako group of companies has been vigorously pursuing initiatives to reduce the environmental impact of our operations while looking for efficiencies. By implementing COAC's program, we'll reduce diesel consumption and also reduce carbon emissions at the same time. There's no doubt that reducing our carbon footprint makes business sense and COAC is helping us do that."
- COAC currently represents 35 member companies provincewide with diverse representation from logging, trucking, general freight and road-building companies, along with local governments around B.C.
- Collectively, the member companies consume more than 109-million litres of diesel annually.
- COAC estimates that another 100 members will join in the near future representing an additional 152-million litres of diesel consumption.
- COAC estimates that with upgraded technology and training, these members will reduce their diesel consumption by 10 per cent or 20 million litres between 2013 and 2016.
- Between 2013 and 2016, member companies will reduce their CO2 emissions by 60,000 tonnes.
- The program helps business owners overcome the technological and financial barriers to making carbon reduction changes to their operations.
- The purpose is to provide a fuel-efficiency and carbon-reduction program for owners of heavy equipment and long- and short-haul trucks to reduce operating costs, aggregate and transfer, trade or sell carbon offsets.
BC Newsroom - Ministry of Environment: http://www.newsroom.gov.bc.ca/ministries/environment-1/
Carbon Offset Aggregation Cooperative (COAC): www.carbonoffsetcooperative.org
LiveSmart BC Energy Efficiency Incentives: http://www.livesmartbc.ca/incentives/efficiency-home
LiveSmart BC Small Business Program: http://www.livesmartbc.ca/incentives/efficiency-home
SCRAP-IT BC Program: http://www.scrapit.ca
Ministry of Environment