Posted on 27 January 2009
Ottawa – On Tuesday, January 27, the Honourable Grant Mitchell, Liberal Senator from Alberta, introduced a private members’ bill which will encourage individuals to offset their personal carbon emissions. Bill S-213 amends the Income Tax Act to provide for a new non-refundable tax credit for the purchase of carbon offsets.
“Climate change is a very serious issue facing the world today,” said Senator Mitchell. “This bill is designed to create an incentive for individuals to offset their own carbon emissions. It speaks to the need to combat climate change while providing economic opportunities for green industries.”
Encouraging Canadians to offset their personal carbon emissions is good for the environment and the economy. Stimulating Canadian businesses and farmers, who are the recipients of offset investments, will drive the creation of a new green economy.
Individuals, families and businesses could choose to purchase offsets to neutralize their own carbon emissions. Officially certified projects, which are held to international standards, would use the investment to fund programs that increase energy efficiency and reduce emissions output. Investment is directed to sectors where significant reductions would otherwise not occur. This ensures that real reductions are taking place. By investing in officially certified projects that reduce carbon emissions, Canadians can help to lower our net carbon footprint.
Senator Mitchell is a vocal advocate for the environment and believes that we require a climate change policy that meets our international responsibilities while building a green economy for Canadians for the future. Bill S-213 is an important initiative to help Canadians reduce their carbon footprint while contributing to local projects that promote emission reductions.