The Government of Canada has selected IHS Markit to provide a carbon credit and tracking system to support its Output-Based Pricing System and its proposed Clean Fuel Standard.
The company says this builds on its work designing and developing GHG registries and auction infrastructure for governments in the Americas, EMEA and APAC.
One of these is the largest global registry for carbon, water and biodiversity credits, which since inception has provided full tracking for the lifecycle of more than 350 million credits, IHS Markit says.
Details on the work for Canada’s federal government are limited, but the the company said the infrastructure it is developing “is aligned to Canada’s regulatory framework and timeline of implementation,” IHS Markit’s Timothy Barello told JWN.
The Output-Based Pricing System is in place effective on January 1, 2019. The Clean Fuel Standard is planned to start coming into force on January 1, 2022.