On July 23, 2009 the Voluntary Carbon Standard Association (“VCSA”) announced it will allow carbon reduction projects hosted in Canada to issue Voluntary Carbon Units (“VCUs”) without a corresponding cancellation of Assigned Amount Units (“AAUs”) under the Kyoto Protocol. The decision reflects the VCSA’s belief that a regulatory framework to implement the Kyoto Protocol is unlikely to emerge in Canada and, as such, Canada is unlikely to meet its reduction commitment under the Kyoto Protocol. Consequently, this decision will allow Canadian projects to qualify for the VCS, where previously the Federal Government was not in a position to provide the assurances necessary to remove worry of double counting.

type Climate Change Bulletin – August 2009 – Canadian Offset Projects to be Recognized by the Voluntary Carbon Standard Association