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Canada’s Output-Based Pricing System (OBPS) is designed to reduce greenhouse gas emissions while minimizing economic impacts and competitiveness issues for key industries. It sets emissions intensity benchmarks for large industrial facilities, requiring them to pay for emissions that exceed these benchmarks while earning credits for emissions below the benchmarks. While the OBPS applies to industrial facilities emitting 50,000 tonnes of CO2 equivalent per year or more, facilities emitting between 10,000 and 50,000 tonnes can voluntarily opt into the system. Facilities emitting less than the benchmark earn surplus credits, which they can sell or bank for future use. Those emitting more than the benchmark must submit compliance units (credits or payments). It's important for facilities to incorporate the OBPS into their strategic planning, considering how they can reduce emissions, optimize the use of credits, and manage potential costs associated with exceeding benchmarks. At Targray, we offer expert guidance and tailored solutions for businesses navigating the complexities of the OBPS by helping participants maximize OBPS credit potential and ensure seamless adherence to regulatory standards. Learn more and request a consultation by visiting https://lnkd.in/e5wFx66g
