85Requirements for calculating carbon dioxide equivalent net abatement

85 Requirements for calculating carbon dioxide equivalent net abatement

(1) Carbon dioxide equivalent net abatement must be calculated by subtracting project emissions from project removals, in accordance with Equation 1a or Equation 1b.

(2) A project proponent must calculate project emissions in accordance with Division 3 of Part 4.

(3) A project proponent must calculate carbon stock change for a reporting period for each stratum in accordance with Division 2 of Part 4 based on one of the following:

(a) a full inventory within 6 months before the end of the reporting period;

(b) a PSP assessment within 6 months before the end of the reporting period;

(c) no assessment, in which case the carbon stock change is zero.

Full inventory

(4) Subject to section 17 and section 19, the carbon stock change for the first reporting period for which an offsets report references the stratum must be based on a full inventory in accordance with paragraph (3)(a).

(5) A full inventory must also be conducted for each stratum:

(a) as required by section 19; and

(b) if a PSP assessment is conducted after a full inventory—no later than 5 years after that full inventory.

Note: Section 19 deals with revisions of strata due to growth disturbances.

PSP assessment

(6) If a project proponent chooses to conduct a PSP assessment within a stratum:

(a) a full inventory must have been previously conducted within the stratum; and

(b) the PSP assessment must be conducted no later than 5 years after the most recent full inventory.

Note: For a pre-existing project, a full inventory conducted in accordance with the former determination is treated as a full inventory under this determination (see subsection 17(12)).

Division 2—Calculations

Subdivision 1—Calculating carbon dioxide equivalent net abatement amount

86 General

For paragraph 106(1)(c) of the Act, the carbon dioxide equivalent net abatement amount for a reporting period for an offsets project to which this determination applies is taken, for the purposes of the Act, to be the amount calculated in accordance with this Subdivision of the determination.