Solution will support federal carbon pricing programs to reduce greenhouse gas emissions
IHS Markit (NYSE: INFO), a world leader in critical information, analytics and solutions, today announced it will deliver the Government of Canada’s Carbon Credit and Tracking Solution. The solution will reinforce Canada’s federal measures to mitigate emissions under the Pan-Canadian Framework on Clean Growth and Climate Change, and provide tracking for the federal Output-Based Pricing System.
“Canada is committed to reducing its carbon emissions across industries, while creating incentives for firms to embrace clean energy and growth,” said Kathy Benini, managing director and global head of Environmental Solutions at IHS Markit. “By leveraging our experience and knowledge in designing and delivering national and international registries, Canada will have a best-in-class solution for the federal carbon pricing backstop.”
The federal Output-Based Pricing System is designed to ensure there is a price incentive for industrial emitters to reduce emissions, spur innovation, maintain competitiveness and eliminate carbon leakage. Using the infrastructure provided by IHS Markit, Canada will be able to support these objectives.
IHS Markit has designed and developed greenhouse gas registries and auction infrastructure for governments in the Americas, EMEA and APAC. Its Environmental Registry is the largest global registry for carbon, water and biodiversity credits. Since its inception, the Environmental Registry has provided full tracking for the lifecycle of more than 350 million credits.